Binance, the world's largest cryptocurrency exchange, has transferred 64,400 ETH, worth approximately $260 million, from a Binance address to a Binance Beacon Chain address. This transaction, detected by Whale Alert, is a significant movement of funds within the Binance ecosystem. The transfer is likely related to Binance's plans to support the upcoming Ethereum 2.0 upgrade, which involves a transition to a proof-of-stake (PoS) consensus mechanism. The Beacon Chain, which went live in December 2020, is a key component of Ethereum 2.0 and is responsible for managing the PoS system. Binance's transfer of ETH to the Beacon Chain suggests that the exchange is preparing to offer staking services for its users, allowing them to participate in Ethereum 2.0 and earn rewards for holding their ETH.

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