TechFlow news, on September 1, according to The Data Nerds' monitoring, a wallet suspected to belong to the Arbitrum Foundation transferred a total of 90,000 ETH—worth approximately $226 million—to Binance within the past 24 hours. The most recent transaction of 60,000 ETH (about $150.33 million) occurred eight hours ago.
This move was initially mistaken as potentially coming from the Arbitrum Foundation, sparking market concerns over potential selling pressure. However, chain analyst @ai_9684xtpa clarified that the large transfer was actually part of Binance's cross-chain asset movement, conducted as part of its routine fund management process. The address has been labeled as a "Binance deposit address" by Arkham Intelligence.
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