Gnome Labs deposits $10M in ETH to Binance

Ethereum-based project Gnome Labs deposited 4,020 ETH worth $9.97 million to Binance nine hours ago, according to on-chain analyst ai_9684xtpa. Exchange deposits are typically interpreted as being intended for selling. The address had withdrawn 6,339 ETH worth $12.02 million from Binance on Aug. 17 at an average price of $1,896.83, and if it sold the latest deposit, the estimated profit would have been about $2.345 million, a 30.7% return.