Binance has transferred 80,000 Ethereum (ETH), valued at approximately $249 million, to a Binance Beacon Deposit address, according to on-chain tracking platform Whale Alert. The transaction, which occurred on January 12, 2026, is widely interpreted as the exchange moving funds to participate in Ethereum's proof-of-stake (PoS) staking network.
This movement is part of Binance's internal operations to support its staking services, where users can stake ETH and receive derivative tokens representing their staked assets. By locking such a significant amount of ETH, Binance reduces the circulating supply available for trading, which can be a bullish signal for the asset's price if demand remains steady or increases.
The transfer coincides with a notable surge in Ethereum staking activity across the market. Last week, data indicated the Ethereum entry queue was 237 times larger than the exit queue. Furthermore, the ETH treasury firm BitMine staked 342,560 ETH (worth roughly $1 billion) over a two-day period recently.
In a separate but significant event, an early Ethereum investor, or "OG whale," deposited their entire remaining stack of 26,000 ETH (worth $80.88 million) into the Bitstamp exchange. On-chain analytics firm Lookonchain reported that this whale originally purchased 154,076 ETH at an average price of $517, realizing a total profit of approximately $274 million (a 344% gain).
While a deposit to an exchange increases the potential for selling pressure by shortening the path to the order book, it does not confirm an intent to sell. The whale could be consolidating custody, preparing for collateral use, or rotating between venues. Market participants are now watching for the next on-chain move—whether the funds remain parked, are withdrawn, or are broken into smaller transfers—to gauge the whale's true intent.
Ethereum's price showed modest movement following these events, with a slight 0.1% increase over the previous day. However, trading volume spiked dramatically, rising over 165% to $17.37 billion in the past 24 hours, indicating heightened investor interest and activity around the asset.
