finance
Large Ethereum Holder Transfers Remaining ETH Holdings to Binance
A cryptocurrency holder that lost $230 million on a leveraged long position in February transferred its remaining 225,000 ETH, valued at $528 million, to Binance five hours ago. The transfers emptied the address of its 577,000 ETH position over four days. The address continues to hold 11,500 BTC valued at $934 million on chain.
May 10, 5:41 PM·1m read2 sources
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A large cryptocurrency holder transferred its final batch of 225,000 ETH, valued at $528 million, to Binance five hours ago. The move completes the transfer of the address's entire 577,000 ETH position, worth $1.351 billion at current prices, into Binance over a four-day period.
The address had previously incurred a $230 million loss in February after a leveraged long position on the Hyperliquid platform was liquidated. Following the latest transfer, on-chain records show the address retains 11,500 BTC currently valued at $934 million.
The transfers were executed through multiple transactions during the four-day window. No statements were issued regarding the reason for moving the assets to the exchange.
The address's Bitcoin position remains untouched on chain.
At prevailing market rates, the 11,500 BTC represents a holding worth $934 million. Market participants monitor such large movements to exchanges for potential selling pressure or other liquidity events.
