According to on-chain data analyst Yu Jin and reported by COINOTAG on September 12, an ETH staking whale redeemed 25,755 ETH (approximately $117 million) and transferred the tokens to Binance about 50 minutes prior to the report, a movement visible in on-chain traces and consistent with an exchange deposit.

On-chain history indicates that between August 2023 and April 2024 the same wallet moved roughly $173 million in USDT to Binance, purchased 32,164 ETH at an average price near $2,649 and subsequently restaked via the PoS protocol; COINOTAG estimates the recent unwind yielded an approximate realized profit of $60.5 million.