**51,200 ETH Transferred from Binance to Beacon Chain**
CryptoNewsTerminal Staff19 Aug, 2024
**51,200 ETH Transferred from Binance to Beacon Chain**
Binance Transfers Over $130 Million in ETH to Beacon Chain According to on-chain data from Whale Alert, Binance recently transferred a significant amount of Ethereum (ETH) from one of its addresses to the Binance Beacon Chain. The transaction involved 51,200 ETH, which is currently valued at over $130 million. The transfer is likely related to Binance's ongoing efforts to support the Ethereum ecosystem and its transition to a proof-of-stake consensus mechanism. The Beacon Chain is a separate blockchain that runs alongside the Ethereum mainnet and coordinates the network's validators. Binance has been actively involved in the Ethereum ecosystem since its early days and is one of the largest exchanges for ETH trading. The company's support for the Beacon Chain is a further indication of its commitment to the future of Ethereum. The transfer of 51,200 ETH to the Beacon Chain is a significant event that demonstrates Binance's confidence in the network. It is also a reminder of the growing importance of the Beacon Chain as the Ethereum ecosystem continues to evolve.
