Ethereum restaking whale redeems 7,500 ETH in three days; on
Odaily Planet Daily and PANews reported successively in the early hours of November 8, 2026 that, according to monitoring by on-chain analyst Ai Yi, address 0x924...a2BB0 has redeemed 7,500 ETH over the past three days and deposited it to Binance, suspected of selling; since November 5, the address has cumulatively redeemed more than $17.11 million worth of ETH from Etherfi, and currently still has 1,483.94 ETH staked in Kelp DAO.
Event timeline
- [11-08 01:43] Restaking whale redeems 7,500 ETH over past three days, suspected of selling (Odaily Planet Daily)
- [11-08 01:45] A whale redeems 7,500 ETH over past three days, suspected of selling (PANews)
Background and impact
In the early hours of November 8, 2026, Odaily Planet Daily (01:43) and PANews (01:45) reported successively on the same on-chain movement. According to monitoring by on-chain analyst Ai Yi, a restaking whale tagged as 0x924...a2BB0 has redeemed 7,500 ETH over the past three days and was judged to be suspected of selling. Both outlets said the address has cumulatively redeemed more than $17.11 million worth of ETH from Etherfi since November 5 and subsequently deposited the funds to Binance; the reports also noted that the address currently still has 1,483.94 ETH staked in Kelp DAO.
Looking at the path of operations, the address first redeemed ETH from the restaking protocol Etherfi and then transferred the assets to an exchange — a set of actions often used in on-chain analysis to observe potential selling pressure. What needs to be distinguished is that depositing to an exchange does not equal a completed trade; "suspected of selling" is an inference the analyst made based on the transfer behavior, not a confirmation at the exchange order level. The wording of the two reports differs slightly — Odaily Planet Daily called it a "restaking whale" and PANews called it a "whale" — but the disclosed address fragment, redemption amount, dollar value and protocol names are consistent, with no contradictory data. Another common point is that both outlets' information comes from monitoring by the same analyst, Ai Yi, so the two do not constitute independent verification of each other.
In terms of scale, the figures given in the reports are 7,500 ETH redeemed over three days and more than $17.11 million worth of ETH redeemed cumulatively since November 5, while the address has not fully exited its restaking position and still holds 1,483.94 ETH in Kelp DAO. This focuses market attention on two points: first, whether the remaining staking position will continue to be redeemed; second, whether the funds deposited to Binance form actual sell orders. In the absence of trade data, it is not rigorous to equate the address's actions directly with concentrated selling; for readers tracking on-chain fund flows, entry points such as Binance registration and APP download, OKX registration and APP download, HTX registration and APP download, Gate.io registration and APP download, and Bitget registration and APP download are typically used to view market quotes and public on-chain data, but a single address's transfer behavior is not sufficient as a basis for judgment.
Nodes worth watching going forward include: whether new redemption records appear for the 1,483.94 ETH remaining in Kelp DAO; whether the ETH deposited to Binance is accompanied by corresponding sell transaction records; and whether outflows from restaking protocols such as Etherfi appear simultaneously across more addresses. As of the publication of the two reports, the event remained at the on-chain transfer stage, with no confirmation of trades.
FAQ
### Does this redemption mean the address has fully liquidated its ETH?
Not so. Both reports noted that the address currently still has 1,483.94 ETH staked in Kelp DAO, indicating that its restaking position has only been partially exited and not completely emptied.
### Has "suspected of selling" been confirmed?
Not yet confirmed. The basis is solely the on-chain action of depositing to Binance after redemption; neither outlet provided trade records, and further judgment requires waiting for exchange-related transaction records or records of ETH being withdrawn from the exchange.
### Which nodes need attention going forward?
First, whether the remaining 1,483.94 ETH in Kelp DAO continues to be redeemed; second, whether the funds deposited to Binance form actual sell orders; third, whether restaking protocols such as Etherfi see simultaneous outflows from more addresses.