ChainCatcher reported that, according to monitoring by on-chain analyst Yu Jin, an address associated with F2Pool co-founder Wang Chun (@satofishi) has made a series of large ETH withdrawals since ETH fell below the $1,700 level at the beginning of this month. Over roughly half a month, the address withdrew 54,500 ETH from Binance. Based on the value cited in the report, the withdrawn ETH was worth about $93.25 million.
After these withdrawals, the same associated address staked 37,400 ETH, valued at approximately $63.88 million. The on-chain activity described in the report consists of two main steps: withdrawing ETH from Binance and then staking part of that ETH. The monitoring information was attributed to on-chain analyst Yu Jin.
The report did not include additional details beyond the withdrawals and staking activity. The disclosed timeline places the activity in the period after ETH dropped below $1,700 earlier this month, and the address was described as being linked to Wang Chun, co-founder of F2Pool and known on X as @satofishi.