Is Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum s
Price About to Dump as These 2 Institutions
Are Selling
ETHHoldings?
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.
SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this
link to register a new account and receive $600 exclusive welcome offer on
Binance ( full details ).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this
link to register and open a 100 USDT-M position for free!
You Might Also Like:
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Holders Accumulate 113K ETH, Outpacing Spot ETF Inflows
Jump Trading Offloads More Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum as ETH Price Dumps 3.5% Daily
Ether Price Dumps Almost 4% as Spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETF Outflows Reach $77M
Tags: Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) Price