Dormant Wallet Withdraws 34,601 ETH From Binance After Two Years: Did It Buy?

A wallet that had been inactive for more than two years withdrew 34,601 Ethereum (ETH) from Binance.

Lookonchain, which tracks on-chain data, reported that wallet 0xC356 withdrew 34,601 ETH from Binance in the three hours before the post. The wallet had been inactive for more than two years before this transaction.

The withdrawn amount was valued at $73.75 million at the time of the post.

ETH withdrawal does not confirm buying claim

Lookonchain raised the question of whether the move was a large ETH purchase during the market downturn. However, the information shared shows that ETH was withdrawn from Binance to the wallet; it does not say that the wallet purchased these assets.

Not investment advice.