Ethereum Whale Awakens from Six-Month Slumber, Moves 1,700 ETH from Binance

A resurgence to the spotlight has occurred, bringing Ethereum's well-known whale with it, withdrawn from a half-year dormancy and now moving significant Ethereum from Binance.

A well-known Ethereum whale has been seen transferring a large sum of ETH from Binance, emerging from a half-year dormancy.

According to crypto market monitoring service, in the last six hours, the Ethereum (ETH) whale, identified by the address 0x20D869bA482C6D7a5451Ca1976C655afed01bF67, has made its first major transaction since going dormant. The whale was spotted withdrawing 1,700 ETH, valued at approximately $3.1 million, from a significant cryptocurrency exchange.

“After 6-month silence, a known ETH whale is back in action.

Wallet 0x20D869bA482C6D7a5451Ca1976C655afed01bF67 just withdrew 1,700 ETH from #Binance, totaling $3.1 million, roughly 6 hours ago.”

The cryptocurrency community is once again buzzing over the sudden movement of funds from a previously dormant whale. This latest development has experts speculating about the whale’s next move and what it could mean for the price of Ethereum. There’s even some chatter over the possibility of a stealth fork in Ethereum’s future.

As the world of cryptocurrency becomes increasingly integrated into the fabric of finance, every move by a major player like this is sure to be closely scrutinized.

In the broader scheme of things, the recent activity in Ethereum ETFs also remains noteworthy.

According to , all nine spot Ethereum ETFs showed no net inflows or outflows on May 5. This implies that ETF investors did not engage in any activity to buy or sell the spot Ethereum ETFs throughout that day.

However, despite the absence of activity in the Ethereum space, the report highlights a substantial capital inflow into Bitcoin ETFs. These nine U.S.-listed Bitcoin ETFs encountered a collective net inflow of $425 million on May 5 alone.

The report further notes that the Bitcoin ETFs have now registered three consecutive days of net outflows. Moreover, the total capital held by these Bitcoin ETFs at the end of Monday’s trading session reached $87.6 billion.

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