A well-known Ethereum predictor and whale has taken action. According to data provided by Spot On Chain, a large cryptocurrency whale on a decentralized finance (DeFi) platform has withdrawn millions of dollars worth of altcoins, transferring their Ethereum (ETH) to the Binance exchange. The popular whale, named czsamsunsb.eth, withdrew 32,930 ETH worth $75.7 million from staking on Lido Finance (LDO) and moved it to Binance on February 5.
This move is reported to have been made by the whale, taking advantage of an approximately 2% increase in the price of Ethereum. The whale had previously drawn attention by transferring their Ethereum to Binance before price drops. Currently, the whale holds 12,186 stETH valued at $28.1 million on Lido Finance.
The same whale had recently triggered a more than 60% drop in Lybra (LBR) by withdrawing their staked LBR assets and moving them to exchanges.
Ethereum, showing a 1% increase in the last 24 hours, is currently trading at $2,323. The whale’s transfer is being interpreted as an indicator of a possible downturn and is closely monitored within the crypto community.