🔍 on-chain tracking. A major/institute made a profit again with 30,825 units of ETH ,...
On-chain monitoring shows that one of the giants continued to sell 30,825 ETH, earning a cumulative $72.83 million
On September 27, BlockBeats reported that a giant/agency had continued to hold 30,825 ETH for an accumulated gain of $72.83 million; it transferred 112,053 ETH into Bitfinex in one week. Such large exchange transfers are usually seen as profit-taking or potential sell pressure signals, but the specific use is yet to be confirmed.
Highlights of the Event
The disclosed on-chain action consists of two levels: one is that the address continues to execute stops and transfers into exchanges, involving 30,825 ETH, with a cumulative gain of $72.83 million; the second is that it has transferred 112,053 ETH to Bitfinex in total over the past week, showing that the flow of funds was not an isolated event.
Follow-up
It remains to be seen whether ETH, as a mainstream crypto-asset, enters the spot dump after large amounts are transferred to exchanges. Changes in Bitfinex balances, amount of tokens and active addresses on the chain will continue to be monitored. The transfer itself does not equal an immediate sale, but may also be used for market making, custody or account switching, so this event is more like a risk signal than a price conclusion.
ETH, the giant on a chain, and Bitfinex
Warning signs
This article is for on-chain information only and does not constitute any investment recommendation. The price of crypto assets fluctuates greatly, and on-line transfers may also involve non-direct transactional uses such as custody, deployment etc. Readers are asked to verify the information independently, fully assess the risks, make rational judgments and take cautious decisions
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