• An anonymous whale recently withdrew $34.7 million in SHIB from Binance.
• The whale transferred 4,000,000,000,000 SHIB on the Ethereum blockchain, and it was valued at around $34.7 million at the time of the transaction.
• The whale may have moved the coins to a staking platform, which suggests they have a more positive outlook on the potential of the meme currency.
An anonymous whale recently made a huge move in the cryptocurrency market. On January 10th, 2023 at 5:23 pm, the whale withdrew $34.7 million in SHIB from Binance. This transaction featured the transfer of 4,000,000,000,000 SHIB on the Ethereum blockchain, which was valued at around $34.7 million at the time of the transaction.
This huge withdrawal has caught the attention of the crypto community and many analysts are wondering what the whale plans to do with the coins. The sending address for this transaction was a wallet associated with the cryptocurrency exchange Binance, while the receiving address was related to the SHIB staking service. This suggests that the whale is planning to lock the coins in a staking contract for a certain period in exchange for incentives.
The fact that the whale has moved the coins to a staking platform has caused many to suggest that they have a more positive outlook on the potential of the meme currency. This is because staking indicates that the investor intends to keep the coins in their possession for a significant amount of time. If this is the case, it could benefit the price of SHIB in the long run.
However, the effects of this transaction on the market remain to be seen. It is unclear whether the whale’s actions will push SHIB higher or not. Only time will tell how the price will react to their actions. Nonetheless, this large move from an anonymous whale is certainly making waves in the crypto world.