- Lookonchain revealed that $24.3 million worth of ETH was sent to Binance in the past few hours.
- According to the post, Galaxy Digital was behind the 11.2K ETH transfer.
- ETH was testing a key support and the lower barrier of a positive price channel at press time.
The on-chain tracking platform Lookonchain revealed in an X post this morning that $24.3 million worth of Ether (ETH) was sent to Binance earlier today. According to the post, Galaxy Digital was the entity that made the substantial deposit of 11,200 ETH to the leading cryptocurrency exchange in the past few hours.
Note that #GalaxyDigital deposited 11,200 $ETH($24.3M) to #Binance in the past hour.https://t.co/oPJdrwWcwS pic.twitter.com/n0BAyuf5hQ— Lookonchain (@lookonchain) December 18, 2023
The deposit comes shortly after the largest altcoin in terms of market cap dropped by 1.82%. ETH’s 24-hour loss coincided with the 2.27% drop the broader cryptocurrency market suffered in the same period. Subsequently, the altcoin was changing hands at $2,172.69 at press time, according to CoinMarketCap. The latest drop in price also pushed ETH’s weekly performance to -2.97%.
ETH was, however, able to…
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