Ethereum

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As it turns out, thanks to a report from<a href="https://whale-alert.io/transaction/ethereum/0xa4578bcc7675c372087e131270ab587484567290c2eb48c0d187377d4c6affbe" rel="noopener noreferrer nofollow">Whale Alert</a>, a massive 50,000<a href="https://u.today/trading-legend-peter-brandt-issues-grim-38-crash-ethereum-price-prediction" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> tokens have just landed on the world's largest cryptocurrency exchange, Binance. What is fascinating, though, is the fact that the sender is an unknown entity, according to the initial report.
A colossal amount of<a href="https://u.today/bitcoin-vs-ethereum-new-coinbase-q3-report-reveals-real-winner" rel="noopener noreferrer nofollow">Ethereum</a> tokens worth over $127 million was sent from address "0xE69," which Whale Alert identifies as unknown, to 0x28C, which apparently belongs to Binance.
In the common sense of crypto market participants, such transfers - from an unknown wallet to an exchange - are seen as a signal that a large investor is getting rid of their holdings, using the most liquid place to do so, the exchange. <img src="https://u.today/sites/default/files/inline-images/ethtransfer.png" data-entity-uuid="a132161e-fa01-498b-8d88-de1b9fa22d75" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://whale-alert.io/transaction/ethereum/0xa4578bcc7675c372087e131270ab587484567290c2eb48c0d187377d4c6affbe&quot;>Whale Alert</a>">
Naturally, this is perceived as a bearish sign and can cause fear, uncertainty and doubt among traders.
<h2 dir="ltr" id="catch">Catch</h2>
However, in this particular case, a deeper look into the on-chain realms reveals a slightly different picture.
Digging into Arkham Intelligence's data, it turns out that the stunning transfer may be nothing more than the internal operations of the black and yellow crypto giant. <img src="https://u.today/sites/default/files/inline-images/ethark_1.png" data-entity-uuid="e7de90fe-4bb1-49f6-8490-f8421f408ada" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://platform.arkhamintelligence.com/explorer/tx/0xa4578bcc7675c372087e131270ab587484567290c2eb48c0d187377d4c6affbe&quot;>Arkham Intelligence</a>">
As it stands, both addresses belong to none other than Binance itself, with the mysterious sender's wallets identified as the exchange's internal storage.
This completely changes the situation, as the internal transfer between the exchange's own wallets can hardly be called a worrying sign and trigger a sell-off, even against the negative background that the<a href="https://u.today/eth-is-not-dying-analyst-benjamin-cowen-shares-hot-take" rel="noopener noreferrer nofollow">ETH</a> token is currently experiencing.
On the other hand, it is worth staying vigilant in case there are more manipulations like this to come. <a href="https://u.today/50000-ethereum-eth-mystery-stuns-binance-but-whats-really-going-on" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

50,000 Ethereum (ETH) Mystery Stuns Binance, But What's Really Going On?

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