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Ethereum whale cashes out 17,000 ETH – Here’s what it means for you

An investor holding a large amount of ether (ETH), a so-called whale, who began trading the Ethereum blockchain’s native token in 2017 moved a large chunk of it to crypto exchange Binance on Wednesday, in a possible precursor to liquidating the holding.

Roughly 18 hours ago, the address x50b42514389F25E1f471C8F03f6f5954df0204b0 transferred 12,000 ETH (worth $42.8 million at the time) to Binance, according to blockchain sleuth Lookonchain. That’s about 0.01% of the total circulating supply of the second-largest cryptocurrency by market cap. The same address moved nearly 9,000 ETH to Binance on Tuesday, withdrawing 30 million tether (USDT). Tether is the world’s largest dollar-pegged cryptocurrency.