A significant event in the cryptocurrency market recently unfolded, involving a prominent crypto trader, DonAlt. Initially, Lookonchain reported an alleged transfer of 4,001 Ethereum (ETH), valued at approximately $18.02 million, from a wallet purportedly connected to DonAlt to Binance, the world's largest cryptocurrency exchange. This transfer garnered considerable attention due to DonAlt's reputation as an analyst who accurately predicted XRP's substantial rise from $0.50 to $3.65 in the previous cycle, a move that boosted the coin's price by around 700%.

At the time of the alleged transfer, Ethereum was trading at approximately $4,498 per coin, placing it less than $500 shy of its all-time high achieved earlier in the month. The token had already more than doubled in value from the previous year, when it was trading under $2,200. The wallet in question, despite the massive transfer, still retained holdings of 227 ETH, worth about $1.03 million, alongside smaller amounts of other cryptocurrencies. Such large deposits on exchanges typically spark speculation about investors taking profits or reallocating assets, and the market closely monitors movements associated with influential figures like DonAlt.

However, the news of this substantial ETH transfer quickly proved to be a market rumor. DonAlt himself promptly denied any connection to the wallet, asserting that the transaction was a result of a mislabeling. He publicly dismissed the notion of him offloading millions in ETH as