In a series of transactions, Jump Trading has made major moves with its Ethereum holdings. According to blockchain data shared by Ember CN, Jump Trading has transferred 11,500 ETH, worth approximately $28.9 million, to a sales address.
This move follows the firm’s application to redeem 19,049 stETH (staked Ethereum) for regular ETH. The redeemed ETH was then moved to an address responsible for distributing and transferring funds to centralized exchanges (CEX).
Jump Trading 将 1.15 万枚 ETH 转入出售地址，并继续申请将 19,049 stETH 赎回成 ETH。
1⃣Jump Trading 负责解包赎回 ETH 的地址将 8/4 申请赎回的 1.15 万枚 ETH ($28.9M) 转移至负责接下来将 ETH 分发转入 CEX 的地址。
2⃣继续从存放 wstETH 的地址将 16,210 wstETH ($47.92M) 转移至负责解包赎回… https://t.co/6UPiIevhHp pic.twitter.com/lx5RXM0UZA— 余烬 (@EmberCN) August 7, 2024
Jump Trading Ethereum Load-off
But the activity doesn’t stop there. Jump Trading has also moved 16,210 wstETH (wrapped staked Ethereum), valued at about $47.92 million, to an address dedicated to unwrapping and redeeming ETH.
The scale of these operations is substantial, with the firm’s address still holding 21,394 wstETH, worth around $63.33 million.
These moves by Jump Trading raise several questions about the firm’s market strategy and outlook on ETH. The firm’s recent offloading of Ether contributed to its price drop to the $2,100 level.
However, Jump Trading’s recent move doesn’t seem to have affected Ether, as the price remains sturdy at the $2,400 level. In the last 24 hours, ETH has gone as high as $2,546 before dropping to its current price of $2476.
Also Read: Metaplanet Secures $70M to Expand Bitcoin Portfolio Through Offering
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