Two whale wallets deposit 33,180 ETH to exchanges with $20.5 million profit
- —33,180.48 ETH transferred, worth $86.93 million at the time of deposit
- —Average purchase price on Bitfinex in November 2023 was $2,002.75 per ETH
- —Deposit price to exchanges was $2,620 per ETH, implying a $20.48 million profit
- —No sale has been confirmed: a transfer to an exchange does not mean an order was filled
Why it matters: A large ETH deposit to exchanges may signal preparation to sell and could add pressure on the asset's price.
Source: TokenPost