TechFlow reports that on November 20, according to on-chain analyst烬 (Jing), a large ETH staking whale transferred 7,864 ETH worth $24.38 million into Binance 40 minutes ago. Despite holding his ETH for nine months, he is still at a loss.
It is understood that this whale withdrew 23,361 ETH (worth $7.582 million) from Binance on February 27 and deposited them into staking, when the ETH price was $3,245 (for comparison, BTC was at $54,520 and SOL at $110 at that time—both have seen roughly 1x appreciation since then).
Now, after nine months, he has redeemed 7,864 ETH and transferred them back to Binance, but given current prices, he is likely realizing a loss.
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