Whale Deposits $120M To Binance As ETH Hits $3,540

A large Ethereum whale deposited $120 million in USDT to Binance, according to on-chain data, as the crypto market responds positively to the end of the US government shutdown. The whale, identified as “66kETHBorrow,” has previously accumulated 385,718 ETH, valued at $1.33 billion.

Lookonchain reported that “66kETHBorrow” borrowed the USDT from the Aave lending protocol, suggesting a preparation to purchase additional ETH. This whale is known for acquiring large amounts of ETH using borrowed stablecoins.

The deposit follows the signing of a bill by US President Donald Trump, ending a 42-day government shutdown. The bill passed the House 222-209, triggering renewed market optimism.

ETH is currently trading at $3,540, representing a 2.9% increase in the past 24 hours. Ethereum’s market capitalization stands at nearly $430 billion. The broader crypto market has also seen a positive response, with the total market cap rising 0.4% to $3.5 trillion and trading volume increasing by 12%.

Prior to the government’s reopening, Binance saw over $1 billion in stablecoin inflows, a typical indicator of anticipated buying activity. The move signals potential further growth for both Bitcoin and the broader altcoin market.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.