TL;DR:
- Prior huge withdrawal: In Could and June, Chun Wang withdrew 91,945 ETH ($160M) and 973 WBTC ($61M) to chilly wallets and DeFi protocols.
- Technique shift: Beginning July 2, the F2Pool co-founder initiated steady deposits to Binance, together with an preliminary 16,800 ETH.
- Latest flows: On-chain information from Arkham recorded an extra deposit of three,345 ETH ($6.5M) on July 27.
Chun Wang, co-founder of F2Pool, resumed the large switch of cryptocurrencies to Binance, reversing his accumulation technique maintained over the earlier two months. This motion by the chief set off alarm bells amongst merchants and traders because of the potential enhance in promoting strain.
Chun Wang (@satofishi) deposited ~$6.73M price of property to @binance.
He deposited 3.44K $ETH (~$6.70M) and three.51 $WBTC (~$228.35K) to Binance.
Breakdown:
• 3.49K $ETH (~$6.70M)
• 3.51 $WBTC (~$228.35K)The most recent switch occurred 8 minutes in the past.
Information: @arkham pic.twitter.com/oGVfWNQEc2
— Onchain Lens (@OnchainLens) July 27, 2026
Technique shift in on-chain flows
Throughout Could and June, the chief acted with the profile of a long-term investor by withdrawing property from centralized exchanges to non-custodial wallets and DeFi protocols, together with Spark. Throughout that interval, the cumulative quantity off platforms reached roughly 91,945 ETH—equal to round $160 million on the time—and 973 WBTC, near $61 million. Based on business evaluation, one of these motion is often interpreted as a bullish sign, because it reduces the availability obtainable within the rapid market.
Nonetheless, the habits recorded on-chain took a distinct flip throughout the month of July. Information point out that Wang halted fund withdrawals and commenced fractional deposits into Binance scorching wallets. The sequence began on July 2 with the switch of 16,800 ETH and 60 WBTC, adopted by a switch of 9,800 ETH the following day.
On July 27, evaluation agency Arkham tracked a brand new motion involving 3,345 ETH, equal to $6.5 million. Based on market stories, the earlier accumulation in private wallets represented a “frozen” provide, whereas property transferred to buying and selling platforms change into straight obtainable on the market.
The choice to maneuver these funds suggests a seek for rapid liquidity in a centralized surroundings, moderately than holding positions in decentralized finance. Within the cryptocurrency market, transfers executed by large-volume traders can create localized volatility in value motion. The final word impression on order books will depend upon how buying and selling volumes evolve throughout platforms over the approaching days.
