Dormant wallet withdraws $73.7m in ether from Binance after two years
On-chain records show an address idle since 2024 moved 34,601 ether out of Binance in a three-hour window as market prices fell.
Key takeaways
- 1A wallet idle for over two years withdrew 34,601 ETH ($73.75 million) from Binance within three hours.
- 2Ether traded down 4.1 percent over 24 hours to $2,142.42 with a market valuation of $261.8 billion.
A cryptocurrency wallet that sat completely idle for more than two years withdrew 34,601 ether, worth approximately $73.75 million, from the crypto exchange Binance. On-chain records show that the full balance was transferred out of the centralized platform across a rapid three-hour window on Sunday morning.
The destination wallet address, identified on the blockchain by the partial public key 0xC356, had not recorded any inbound or outbound transaction activity since late 2024. The unexpected movement of funds out of Binance occurred alongside a broader downturn across major digital asset markets.
Ether is the native token of the Ethereum blockchain, which underpins decentralized applications and smart contracts, and ranks as the second-largest cryptocurrency by market capitalisation behind bitcoin. YourKhabri market data shows ether dropped 4.1 percent in 24 hours to trade around $2,142.42, giving the digital asset an overall market valuation of $261.8 billion at the time of the transfer.
Substantial token withdrawals from central trading venues generally indicate that a prominent investor or institution is placing funds into self-custody or long-term cold storage rather than preparing to sell them on the open market. Market observers will watch on-chain ledgers over the coming days to see if the address keeps the assets stationary or transfers them onward to decentralized protocols.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.