Large-scale Withdrawal in 6 Hours: ETH and WBTC Moved to Spark
According to on-chain data monitoring platform Ember, F2Pool co-founder Wang Chun (@satofishi) withdrew 9,937 ETH (approximately $15.5 million) and 147.5 WBTC (approximately $8.7 million) from Binance within the past six hours. These assets were subsequently transferred entirely to the lending protocol Spark. This move indicates that Wang Chun may be leveraging Spark for margin or collateralized lending operations to further expand his crypto positions.
Cumulative Accumulation Since June Low
Since Bitcoin (BTC) fell below $60,000 and Ethereum (ETH) dropped below $1,700 this month (June 2026), Wang Chun's address has been continuously accumulating on a large scale. According to Ember's statistics, his address has accumulated approximately 65,700 ETH (~$111 million) and 966 WBTC (~$60.29 million). Based on this, the average entry price is approximately $62,400 for BTC and $1,660 for ETH. This suggests that Wang Chun executed a precise bottom-fishing strategy during this downturn, and his positions are currently showing significant floating profits (BTC is trading around $62,000, ETH around $1,680 as of press time).
Fund Allocation Strategy: Staking and Lending in Parallel
As of now, all of Wang Chun's WBTC and approximately half of his ETH (about 32,850 ETH) have been deposited into the Spark lending protocol. The remaining half of ETH has entered the Ethereum staking contract. This combination indicates a relatively conservative strategy: part of the assets are staked to earn interest (ETH staking yields around 3-5% annually), while the other part is deposited into the lending protocol to obtain liquidity or for leveraged operations. It is worth noting that the funds deposited into the lending protocol may be used to borrow stablecoins or reinvest, so further on-chain movements should be monitored.