$11M in Ethereum Was Just Transferred to Binance

Large amounts of Ethereum have been moved around recently, as whales have been buying and selling the second biggest cryptocurrency after its recent price dip from $2,743 in March. 8 to the low of $2,543 today.

At press time, Ethereum is going through a tough short-term correction and losing around 0.7% of its previously gained value, along with the major cryptocurrencies. In the last three months, the second-largest cryptocurrency has lost over 60% of its previously gained value.

Ethereum2 Deposit Address Exceeds 10M in Ethereum

Though Ethereum 2.0 is not been officially released, ETH holders have already been enabled to stake their holdings on the beacon chain. At the time of writing, an Ethereum2 Deposit Address contract holds 10,021,538 ETH, equivalent to $25,765,326,755.

Currently, the Ethereum staking solution allows for earning approximately 5% APY with a gradual hike to approximately 12% later in the year. The increase is tied to the fact that the Ethereum network is going to switch off its Proof-of-Work consensus protocol to the energy-efficient pure Proof-of-Stake.