EtherFi team moves $6.2M worth of ETHFI to Binance

An address linked to the EtherFi team moved 5 million ETHFI tokens ($6.2 million) to Binance Exchange about 40 minutes ago, according to on-chain analyst @EmberCN on X. This same address had previously unlocked 14.5 million ETHFI from the team’s allocation back in February. While deposits to exchanges are generally viewed as potential signs of selling and withdrawals as holding, depositing tokens does not necessarily mean they will be sold immediately.