Ethereum News Today: Ethereum Whales Shift Millions to Binance Amid Bullish Conviction

A large Ethereum (ETH) holder recently deposited 3,711 ETH into Binance, according to on-chain monitoring by analyst @ai_9684 xtpa. The transaction occurred at an average price of $4,294, translating to a total value of approximately $15.93 million. This deposit, occurring after a period of consolidation for ETH, reflects a significant unrealized gain of $1.417 million if the position is sold. Currently, the wallet is estimated to hold 3,000 ETH, with an unrealized profit of $1.13 million remaining. The transaction highlights ongoing whale activity within the Ethereum ecosystem, where large holders are not necessarily liquidating their holdings but instead moving them to centralized exchanges for potential strategic use or liquidity.

This activity is part of a broader trend where Ethereum whales are shifting their positions on major exchanges like Binance, often redeploying their holdings into decentralized finance (DeFi) protocols such as Aave for yield generation. According to analyst Darkfost, whale activity remains elevated, with large-scale withdrawals recorded in recent trading sessions. These movements indicate a growing institutional and whale appetite for Ethereum, even amid sideways trading and uncertainty around the $4,500 resistance level. The outflows, rather than signaling bearish sentiment, reflect long-term conviction in Ethereum’s value and resilience during consolidation phases.

The impact of these outflows on Binance’s reserves is also notable. The exchange’s ETH holdings have decreased to 4.2 million ETH, a trend analysts interpret as a sign of strong demand rather than a liquidity crisis. Historical patterns suggest that declining exchange balances often precede price appreciation, as holders move coins off exchanges for long-term storage or yield generation. These movements have contributed to Ethereum outperforming Bitcoin in recent weeks, as whale demand continues to concentrate on ETH while Bitcoin faces slower accumulation.

Ethereum’s current price action remains within a consolidation range, trading around $4,381 as it tests key supports and resistances. The 200-period simple moving average (SMA) continues to serve as a critical support level, and maintaining this threshold is seen as essential for avoiding deeper corrections. Meanwhile, shorter moving averages suggest a lack of clear direction, with the 50 SMA converging with the 100 SMA. Analysts caution that a break below $4,300 could expose the asset to further downward pressure, but a successful retest of the $4,500 level could reignite bullish momentum.

The broader market environment also plays a role in Ethereum’s performance. Regional liquidity dynamics between Asian and U.S. markets are increasingly influencing short-term price movements. While Bitcoin is seen as a macro hedge, Ethereum is increasingly viewed as a high-conviction upside play, especially with institutional interest and expectations of the Fusaka network upgrade. These factors, combined with consistent whale accumulation and strategic redeployment of positions, position Ethereum as a focal asset for the next phase of market activity.

Source:

[1] Data: A certain whale transferred 3711 ETH to Binance... (https://www.chaincatcher.com/en/article/2203826)

[2] Binance Sees Massive Ethereum Whale Outflows (https://www.mitrade.com/insights/news/live-news/article-3-1100350-20250905)