Binance offloads millions worth of ETH and SOL, what could it mean?

The chain data shows that Binance has facilitated withdrawals for millions of ETH and soil in the last 24 hours of negotiation, what could that mean?

According to data According to Arkham Intelligence, Binance’s Holdings experienced an increase in activity during the last day of negotiation, in particular with regard to his Ethereum (Ethn) and Solana (GROUND) Holdings. The greatest exchange of crypto by daily trading volume has sparked a buzz in the online crypto trading speech when users have detected a major activity Binance Hot wallet.

According to data on the chain, in the last hours, the hot portfolio of Binance has dropped at least 103,570 soil, or equal to $ 16.32 million according to current market prices. During the last day, Solana dropped by almost 8%. Soil is currently negotiated at $ 157.58, slide $ 160 for the first time since October 2024.

Many traders have confused Binance portfolio activities such as the exchange selling its assets through a market manufacturer WinterWhen in fact an analyst on X pointed out that he in fact withdrew millions of millions of Solana from the assets of Binance.

“As far as I understand, it actually means that Wintermute removes the Binance Hot Wallet account, probably after buying it from order books,” said Vini Barbosa, publisher of Finbold and Alliancedao member in his recent job.

On the other hand, Binance would also have sold around 25,000 ETH between 8:00 a.m. and 10:00 a.m. UTC, the sale price being at the time being about $ 3,200 per ETH. This means that the scholarship has exchanged $ 80 million in its Holdings Ethereum. The exchanges of tokens were addressed mainly to the partners of symbolic capital and to Wintermute.

Shortly after, the price of Ethereum dropped by 3.5%. At the time of writing the editorial staff, ETH dropped by almost 4% and is negotiated at $ 2,683.

Another story, Martytarty, said Binance “rinsed” Trump (ASSET) Tokens, saying that the scholarship sold 4.7% of their Trump Holdings value of $ 1 billion.

However, it was later discovered that the exchange had sold no Trump jet, but the value of their assets increased from 1 billion to around $ 850 million due to the drop in Trump’s price of more than 7%.

What could the “sale” of binance token?

On the one hand, this can mean that these tokens are in great demand, because the main market manufacturers like Wintermute remove or mark the hot portfolio from Binance, which means that they eliminate the liquidity or the purchase of soil and Eth of Eth of order books.

On the other hand, the fact that Binance is ready to separate from these assets means that the exchange could rebalance its wallet. This means that binance adjusts exposure to certain assets, thereby reducing the risks associated with volatile tokens or preparing to reassign their funds to more secure assets.

Consequently, investors and merchants can interpret this decision as an indication that Binance expects a turbulence of the upcoming market, which could influence the liquidity and trading of volumes for the aforementioned tokens. This action could help prevent potential price handling or net reductions during periods of high pressure.

In addition, the abolition of millions of token from the value of the Binance active trading environment can reduce liquidity. This reduction could lead to broader propagation and more pronounced price oscillations on the platform, affecting the overall feeling of the market and potentially trigger new adjustments among other market players.