Hong Kong Crypto Giant Metalpha Deposits 33,589 Ethereum Worth About $77,550,000 to Binance: Lookonchain

The Hong Kong-based crypto wealth management giant Metalpha deposited $77.55 million worth of Ethereum (ETH) to Binance in the past few days, according to the digital asset tracker Lookonchain.

Metalpha sent a total of 33,589 ETH to the top global crypto exchange over multiple transactions, including 10,000 ETH worth $23.45 million on Monday.

The firm still holds 51,300 ETH worth $120 million, according to Lookonchain.

The crypto tracker notes that other Ethereum whales are accumulating.

“A smart whale bought 5,000 ETH ($11.46 million) at the bottom again in the past two days! The whale bought 5,200 ETH at an average price of $1,322 in November 2022. Then sold it at an average price of $2,093 in January, December 2023, and January 2024, making more than $4 million!”

Ethereum is trading for $2,378 at time of writing. The second-ranked crypto asset by market cap is up 1.5% in the past 24 hours.

Lookonchain also notes that a Solana whale sold 20,000 SOL worth $2.66 million on Monday. The address has sold a total of 715,000 SOL worth $102 million since the beginning of the year, and it still has 1.84 million SOL worth $246 million staked, according to the crypto tracker.

SOL is trading at $135.57 at time of writing. The 5th-ranked crypto asset by market cap is up more than 0.5% in the past 24 hours.

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The post Hong Kong Crypto Giant Metalpha Deposits 33,589 Ethereum Worth About $77,550,000 to Binance: Lookonchain appeared first on The Daily Hodl.

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