A whale transferred 16,000 ETH from Binance to the Binance Beacon Chain, indicating improved staking on the platform. However, Ether deposits on the Beacon Chain have not had a stable direction and were down to 10,900 ETH at press time. Despite this, withdrawals did not follow with a hike, suggesting that validators had more conviction in the long-term value of staking ETH rather than short-term performance. It is worth noting that most of the ETH and staked Ether deposits were not on exchanges, with the supply outside of exchanges being ten times the exchange supply.
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Whale Transfer of 16,000 ETH to Binance Beacon Chain Does Not Trigger Significant Rise in Staked Deposits
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