Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Unidentified Whale Purchases $59M ETH from Binance

Unidentified Whale Purchases $59M ETH from Binance

Coinlineup2025/06/23 06:48
By:Coinlineup
Key Takeaways:

  • Large ETH purchase from Binance by unidentified whale.
  • Move perceived as market accumulation.
  • Potential bullish indicator amid retail uncertainties.
Unidentified Whale Purchases $59M ETH from Binance

An unidentified whale withdrew $59 million worth of ETH from Binance within three hours on June 22, according to on-chain analytics platform Lookonchain.

The buy suggests accumulation by large holders and reduced sell pressure, hinting at a possible bullish signal while retail panic persists.

A large unidentified wallet has withdrawn 26,256 ETH worth $59 million from Binance. This transaction was completed over a three-hour window on June 22, highlighted by Lookonchain, an on-chain analytics platform.

The wallet involved appears new and is currently unassociated with any known public individual or major cryptocurrency figure. No official statements from Binance or Ethereum leaders are available regarding the transaction.

The withdrawal is interpreted bullishly, as such movements often lead to reduced sell pressure. Analysts suggest this indicates smart money accumulation, potentially influencing market dynamics and ETH valuations. As Crypto Lord, an independent trader, noted, “Smart money is buying $ETH while you are panic selling.”

No direct impact on other cryptocurrencies has been noted. However, the transaction can indirectly sway ETH-correlated trading pairs due to market volatility and liquidity shifts, particularly affecting DeFi tokens.

No statements from regulatory bodies or institutions have been issued concerning this transaction. Community sentiment remains cautiously optimistic based on historical ETH withdrawal patterns.

Historical analysis shows that whale purchases of this size have previously coincided with market bottoms or accumulation phases. Such moves often precede price recoveries and increased ETH demand, suggesting continued investor confidence in Ethereum’s long-term potential.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

ESUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/16 11:12

New spot margin trading pair — CROSS/USDT, TAC/USDT!

Bitget Announcement2025/07/16 08:07

Subscribe to TANSSI Savings and enjoy up to 15% APR

Bitget Announcement2025/07/15 11:00

TACUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/15 10:40