Bitcoin OG deposits $292M in ETH to exchange over two days

A Bitcoin OG, identified by wallets starting with 1011short and 0xb317d, has deposited a total of 121,185 ETH, worth $292 million, to Binance over the past two days, according to on-chain analyst ai_9684 xtpa. The most recent deposit of 15,001 ETH ($34.54 million) occurred seven hours ago. Deposits to exchanges are often interpreted as a precursor to selling. This activity follows a significant loss for the address, which was liquidated for $230 million yesterday on the decentralized perpetuals exchange Hyperliquid (HYPE). The wallet currently holds over $4.9 billion in cryptocurrencies, including 783,514 ETH and 39,604 BTC.