Bitcoin OG deposits $330M in ETH to Binance

A Bitcoin OG, an early, long-term holder, deposited 112,894 ETH, worth approximately $330 million, to Binance about 10 minutes ago, according to Onchain Lens. The sending address, identified as “1011short” and beginning with 0x99E1E, currently holds a five-times leveraged long position in BTC, ETH, and SOL on Hyperliquid and is facing an unrealized loss of $50 million. Deposits to exchanges are typically interpreted as a potential precursor to selling.