Whale Moves Over $50M in Ethereum to Binance Amidst Price Rally and Regulatory Concerns

• A crypto whale moved 12,000 ETH (worth $42.8M) to Binance on Wednesday, possibly signaling plans to sell • The whale had moved nearly 9,000 ETH to Binance the day before • Ether rose 11% on Wednesday to $3,500 despite regulatory concerns • Traders remain more bearish on ETH than BTC based on derivatives market data • The whale may have been looking to sell ETH on the rise