Metalpha, a Hong Kong-based digital asset management firm, has sent 1,058 ETH worth $10.58 million to Binance, according to data from on-chain analytics firm iChainfo. The transaction occurred approximately ten minutes ago and is part of a broader trend of large ETH deposits into Binance. The reasons behind these deposits are unclear but could be related to trading activity, liquidity management, or other investment strategies. Metalpha has not yet publicly commented on the reason for the deposit. However, the firm has a history of making large ETH transactions. In June 2022, Metalpha deposited 10,000 ETH into Binance. That transaction was also part of a broader trend of large ETH deposits into Binance at the time. It is worth noting that on-chain analysis is not always accurate. There is a possibility that the transaction was not made by Metalpha or that the funds were not actually deposited into Binance.