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Заголовок Is Ethereum’s Price About to Dump as These 2 Institutions Are Selling ETH Holdings?
Дата 20240928

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Is Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum s Price About to Dump as These 2 Institutions Are Selling ETH
Holdings?

Is Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum s Price About to Dump as These 2 Institutions Are Selling
ETH Holdings?

Author: Jordan Lyanchev

Last Updated Sep 28, 2024 @ 07:41

Previous similar events have led to substantial corrections for ETH.

On-chain data provided by Lookonchain asserted that two prominent institutions
have sent millions worth of ETH to exchanges, which could suggest trouble for
the second-largest cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта.

Currently, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum trades close to $2,700 after gaining 5% within the past
week.

2 institutions are selling $ETH !

A wallet related to #Cumberland deposited 11,800 $ETH ($31.88M) into #Coinbase
7 hours ago. #ParaFiCapital withdrew 5,134 $ETH ($13.83M) from #Lido and
deposited it into #CoinbasePrime 6 hours ago.

Address:… pic.twitter.com/zuOe68IIuJ

— Lookonchain (@lookonchain) September 28, 2024

As the tweet above reads, the two institutions in question are Cumberland and
ParaFiCapital. The former deposited 11,800 ETH (worth almost $32 million) to
Coinbase, while the latter withdrew 5,134 ETH (nearly $14 million) from Lido
and sent the funds to Coinbase Prime.

Both of those transfers toward the largest US-based exchange happened in the
span of a few hours earlier today.

Recall that ETH s price tumbled hard in early-August under similar
circumstances. Back then, another prominent ETH investor, Jump Trading,
reportedly sold approximately $500 million worth of the asset, whose price
tumbled by double digits in days.

A week later, the company sold a more modest portion of 17,000 ETH (worth $46
million at the time), and Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum s price slipped once again, this time
by around 3-4%.

Consequently, the question arises whether the deposits by Cumberland and
ParaFiCapital will lead to similar price corrections for ETH, even though they
are a lot smaller than Jump Trading s first.

ETH has been on a roll lately, alongside the broader market, having surged by
5% weekly and trading close to $2,700 for the first time since the
aforementioned correction.

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Tags: Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) Price

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