Metalpha Moves $18 Million in ETH to Binance
CryptoNewsTerminal Staff06 Sep, 2024
Metalpha Moves $18 Million in ETH to Binance
Hong Kong-based digital asset management firm Metalpha has deposited 8,088.8 Ethereum (ETH), valued at approximately $18.05 million, to cryptocurrency exchange Binance. The transaction was identified by on-chain data analytics provider Lookonchain and occurred approximately two hours ago. The reason behind the transfer is currently unknown, and Metalpha has not yet publicly commented on the matter. However, the movement of such a significant amount of ETH to a major exchange could indicate that Metalpha is preparing for a large trade or is repositioning its assets.
