• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
Ethereum ETH Whale

Ethereum Whale Unfazed By Prices, Pulls $8.1 Million Of ETH From Binance And Buys NFTs

Dalmas Ngetich by Dalmas Ngetich
2 months ago
in Ethereum
Reading Time: 2 mins read

Ethereum is under pressure and has just dropped below $1,600. However, on-chain data shows that a crypto whale, “0xb154”, has moved more coins from Binance, a cryptocurrency exchange, to a non-custodial wallet.

On September 21, the ETH whale transferred over $8.1 million of the coin. 

ETH whale moves funds to Binance| Source: Scopescan
ETH whale moves funds to Binance| Source: Scopescan

Whale Moves More Ethereum From Binance, Buying NFTs

When crypto prices contract, outflows from non-custodial wallets to centralized ramps, including Binance and Coinbase, tend to rise. This is because centralized exchanges supporting stablecoins or fiat, including the Euro or JPY, offer an interface where they can easily swap for the “safety” of the less volatile fiat currencies or tokens designed to mirror them, including USDT.

Related Reading: Binance & Deribit Traders Aggressively Short Bitcoin, Squeeze Incoming?

That the holder is shifting tokens away from Binance regardless of the heightened volatility can signal confidence for ETH and the broader Ethereum ecosystem. It is not immediately clear what could have motivated the whale to move coins away from the exchange at this point.

However, what’s evident is that ETH is down roughly 4% from September 21’s peak and moving further away from April 2023 highs when it rose to over $2,100.

Records show this is not the first time the whale moved funds. On September 6, the investor withdrew 9,688 ETH worth $15.8 million from Binance. Less than two weeks earlier, the whale notably transferred 22,340 ETH, worth $41.2 million, to Binance.

Related Reading: What The SEC’s Latest Announcement Means For The Crypto Industry

A closer examination of the same address shows it has 24,556.59 ETH worth over $38.8 million at spot rates. Besides ETH, the address controls dust amounts of other periphery altcoins, including ZUM and SWISE.

ETH whale holding| Source: Scopescan
ETH whale holding| Source: Scopescan

Apart from simply HODLing ETH, the whale has also been active on the non-fungible token (NFT) scene, looking at historical purchases. Over time, the investor has held over 100 NFTs where, on average, spent 0.2641 ETH; the latest purchase was on September 21.

The investor has been actively accumulating NFTs since early April 2023 and has spent over 35 ETH.

ETH And NFTs Are Fragile

The whale has accumulated more ETH and NFTs when the crypto market is fragile. To illustrate, NFT trading volume is over 90% down from 2021 peaks. 

Ethereum price on September 21| Source: ETHUSDT on Binance, TradingView
Ethereum price on September 21| Source: ETHUSDT on Binance, TradingView

Presently, ETH prices are down 25% from April 2023 peaks. When writing, bears have successfully forced the coin below June 2023 lows as the coin moves further away from the psychological $2,000 level. Candlestick arrangement points to weakness, suggesting that ETH could dump even lower to $1,400—or March 2023 lows, if sellers press on.

Feature image from Canva, chart from TradingView
Tags: BinanceETHethereumNFTs
Tweet123Share196ShareSend
Dalmas Ngetich

Dalmas Ngetich

Dalmas is a crypto reporter covering NFTs, blockchain, DeFi, and blockchain news for NewsBTC. He has over 10 years of experience covering Forex, general finance, technology, and blockchain developments. His work and that of his partners has been featured in top news outlets including investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. He’s passionate about technology and politics. When he’s not keeping tabs on crypto events, you’ll find him out in nature, exploring and traveling with family and friends. You can follow Dalmas on Twitter @Dalmas_Ngetich or ping him on Telegram @Dalmas_Ngetich

Related Posts

Ethereum bull

Ethereum Price Prediction: Crypto Analysts Reveal Catalyst That Will Drive Price Above $3,500

2 days ago
Etheeum

Ethereum ATH: Exploring The Possibility Of Ether’s New Peaks In 2024

2 days ago
Ethereum Golden Cross

A Golden Opportunity For Ethereum? 600% Buy Signal Returns

4 days ago
Ethereum

Ethereum Return To $4,800: Analyst Identifies Pattern To Trigger Rally To ATH

6 days ago
Ethereum

Ethereum Whales Go On 9-Day Accumulation Spree: ETH Price Rally Incoming?

1 week ago
Best Time to Buy Ethereum Could Be Soon: Last Cycle Suggests

Ethereum Outperforms Bitcoin: Is The Altcoin Season Officially On?

1 week ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • Explosive Growth for Cardano Expected by 2024; Whales Flock...

    5 hours ago
  • XRP Eyes Dethroning BNB From the 4th Position...

    6 hours ago
  • Coin Watch: $BTC’s Upside Target $40K, Downside...

    7 hours ago
  • As Bitcoin Rebounds, Here Are the Best Cryptos to Add to...

    1 day ago
  • Bitcoin’s $37K Stability Linked to High Accumulation...

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.