As Whale Transfers 73K ETH to Binance

Following a whale’s large-scale transfer of ether to Binance, on-chain researcher Lookonchain issued a warning about selling pressure on the cryptocurrency.

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Lookonchain tweeted, “Watch out for the selling pressure of ETH,” after observing the significant influx into Binance.
The address that sent almost 73,000 ETH to Binance was the same one that last week withdrew 84,131 ETH from the staked ether (stETH)-ether liquidity pool of the decentralized exchange Curve, according to Lookonchain.
After the whale withdrew more than 84,000 ETH from the Curve pool, the price of staked-ether (stETH), the currency used in the liquid-staking protocol Lido, dropped to 0.97 ETH. According to Dune Analytics, the stETH/ether ratio was 0.98 at the time of publication.

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