Baleia transfers BRL 6 billion in ETH from Binance and pays only BRL 3 fee

A whale transferred R$6.2 billion in Ethereum (ETH) from Binance to an unknown address on Thursday night (1st), as the profile posted on Twitter Whale Alert.

To move this billion dollar amount on the blockchain, the user paid only R$ 3 fee. In all, 600,000 ETH were transferred at once in an operation that took less than a minute to confirm on the Ethereum network.

When analyzing the public data in the blockchain, it is possible to observe that the unknown address that received the cryptocurrencies was created recently and, so far, that it only carried out this transfer.

The unknown ether address became the 5th richest in the world, storing 0.51% of the total coin supply, according to the Etherscan list. When including portfolios held by brokers in the classification, the address drops to 15th position.

According to the transfer pattern, the community speculates that maybe she didn’t come from a whale — a term referring to a person who holds large amounts of cryptocurrencies.

The most likely scenario is that it is an internal exchange of funds carried out by the exchange itself, transferring part of the assets stored in the main portfolio, to a cold portfolio in its possession.

Chinese journalist Colin Wu said in a tweet that you have received confirmation from Binance that this is an internal address. O Bitcoin Portal he sought out the broker to check the information, but the company stated that it could not confirm the origin of the portfolio.

Ethereum Whales

Large whale movements are closely watched by the crypto community as they can have an effect on asset price. Yesterday’s transfer can be seen as positive as it took a large amount of tokens from an exchange. In other words, these coins are no longer available for sale in the market, reducing their offer.

On the other hand, when a whale sends a lot of cryptocurrencies back to a broker, it can be an indication that they will be dumped on the market. Last week, for example, a user sent R$700 million in Ethereum to Binance for a possible massive sale of tokens. This transfer took place on June 24th, the exact moment when ether hit its worst price in three months.

This Friday (2) ETH presents a small gain of 0.2% in the last 24 hours, worth US$ 2,110. The currency is traded on Brazilian brokers at R$10,680, according to the Ethereum Price Index (IPE).

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