7,000 ETH Worth $13.55M Moved from Binance to Newly Created Wallet

TheNewsCryptoPublished on 2026-02-20Last updated on 2026-02-20

Abstract

A significant whale transfer occurred on the Ethereum network, with 7,000 ETH (valued at $13.55 million) withdrawn from Binance in two transactions. The first moved 2,000 ETH ($3.87M), followed 22 minutes later by a second transfer of 5,000 ETH ($9.68M) to a newly created wallet. The recipient address now holds 7,100 ETH ($13.74M). Such large withdrawals from exchanges are often viewed positively as they reduce immediate selling pressure. Meanwhile, Ethereum's price is weak, trading at $1,966.52, down 33% over the past month and 60% from its all-time high. U.S. spot Ethereum ETFs saw $130.19 million in outflows, though cumulative net inflows remain at $11.52 billion. Ethereum has also outlined its 2026 protocol priorities, including the Glamsterdam upgrade planned for the first half of the year.

A significant whale activity has surfaced on the Ethereum network, with a sizable transfer from a major exchange. The transaction involved the withdrawal of 7,000 ETH from Binance, which is valued at $13.55 million.

​According to the on-chain tracking platform, Onchain Lens, the Ethereum withdrawals from the binance occurred in two separate transactions. The first transfer involved only 2,000 ETH, which is worth around $3.87 million, and took place roughly one hour before it was reported on the morning of February 20.

​Secondly, on the same day, within about 22 minutes, a second and larger transaction moved approximately 5,000 ETH, worth about $9.68 million, from the same Binance exchange to the newly created wallet 0xf4aC5a.

Further, the data added that currently that whale wallet is holding 7,100 ETH, which is also worth of $13.74 million. As the large withdrawals from centralized exchanges have historically been seen positively, because these assets mostly have a lower chance of being sold right away when they are removed from exchanges.

​Ethereum Market Movements

The transfers comes as Ethereum price trades lower with 0.29% down in the last 24 hours, is trading at $1, 966.52, with a weekly high of 0.34%, and the 24-hour trading volume is also down over 5%, as of writing the article, in borader sense, ETH is still weak, as it trades down over 33% from the last month. In addition, ETH is now 60.28% down from its ATH of $4,953.73, which was recorded on August 25, 2025.
​Meanwhile, institutional interest in Ethereum appears muted, according to the SoSoValue data, where U.S.listed spot Ethereum exchange-traded funds recorded $130.19 million in outflows, marking its second day of outflows this week, but the cumulative total net inflow stands at $11.52 billion. Also, on the fundamentals side, Ethereum has released its protocol priorities for 2026, and the upcoming Glamsterdam upgrade is planned for the first half of 2026.

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Related Questions

QWhat was the total value of the 7,000 ETH transferred from Binance to the new wallet?

AThe total value of the 7,000 ETH transferred was $13.55 million.

QHow many separate transactions were used to move the 7,000 ETH from Binance?

AThe Ethereum was withdrawn in two separate transactions.

QWhat is the current price of Ethereum's (ETH) all-time high (ATH) and when was it recorded?

AEthereum's all-time high price was $4,953.73, recorded on August 25, 2025.

QAccording to the article, how are large withdrawals from centralized exchanges generally viewed and why?

ALarge withdrawals from centralized exchanges are historically viewed positively because assets moved off exchanges have a lower chance of being sold immediately.

QWhat is the name of the upcoming Ethereum upgrade mentioned in the article and when is it planned?

AThe upcoming Ethereum upgrade is called Glamsterdam and is planned for the first half of 2026.

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