Binance sent huge amount of ETH to Wintermute just as price surged
The post Binance sent huge amount of ETH to Wintermute just as price surged appeared on BitcoinEthereumNews.com. Crypto exchange Binance transferred multiple ETH assets as the token surges above $4000. Arkham Intelligence said the exchange’s Binance executed ETH transfers to Wintermute within hours of the token’s price surge. Binance initially sent the tokens in batches of 250 to 500 ETH, then moved over 1,800 ETH per transfer. Certain transfers surpassed 3,000 ETH—valued at $12 million—while one significant movement totaled 8,000 ETH in a four-hour window. The transactions came shortly after key Ethereum ecosystem updates, notably SharpLink’s $200 million fundraising effort to push its ETH treasury beyond $2 billion. Binance moved tokens across multiple Wintermute-linked addresses Binance dispersed the tokens to multiple Wintermute-linked destinations, including Bybit, Kraken, Gate, and in-house market-making wallets. Collectively, transfers crossed tens of thousands of ETH within seven hours. The exchange started making the transfers just when ETH’s price began to climb from around $3,800 to above $4,055—its highest in months. However, the bullish momentum slowed slightly after the outflows began. Such ETH transfers from exchange wallets to market-making accounts are often considered a precursor to major trades. Analysts have argued that Ethereum’s gains above $4,000 may be short-lived if selling continues. However, the price strength might hold if the outflows are largely aimed at market liquidity. So far, market experts have attributed the transfers to a spike in ETH volatility, resulting in $188.7 million in liquidations and a retracement despite the $4,000 support holding. Meanwhile, Ethereum is trading at $4,245 at the time of writing, making a 7% rise in the last 24 hours. Its 24-hour trading volume is close to reaching $42 billion. Nonetheless, the sessions ahead will test whether the $4,000 price level becomes a lasting support or a momentary summit. Some analysts have suggested that short-term price pressure could follow, should ETH, moved by Binance, be positioned for active selling.…
The post Binance sent huge amount of ETH to Wintermute just as price surged appeared on BitcoinEthereumNews.com.
Crypto exchange Binance transferred multiple ETH assets as the token surges above $4000. Arkham Intelligence said the exchange’s Binance executed ETH transfers to Wintermute within hours of the token’s price surge. Binance initially sent the tokens in batches of 250 to 500 ETH, then moved over 1,800 ETH per transfer. Certain transfers surpassed 3,000 ETH—valued at $12 million—while one significant movement totaled 8,000 ETH in a four-hour window. The transactions came shortly after key Ethereum ecosystem updates, notably SharpLink’s $200 million fundraising effort to push its ETH treasury beyond $2 billion. Binance moved tokens across multiple Wintermute-linked addresses Binance dispersed the tokens to multiple Wintermute-linked destinations, including Bybit, Kraken, Gate, and in-house market-making wallets. Collectively, transfers crossed tens of thousands of ETH within seven hours. The exchange started making the transfers just when ETH’s price began to climb from around $3,800 to above $4,055—its highest in months. However, the bullish momentum slowed slightly after the outflows began. Such ETH transfers from exchange wallets to market-making accounts are often considered a precursor to major trades. Analysts have argued that Ethereum’s gains above $4,000 may be short-lived if selling continues. However, the price strength might hold if the outflows are largely aimed at market liquidity. So far, market experts have attributed the transfers to a spike in ETH volatility, resulting in $188.7 million in liquidations and a retracement despite the $4,000 support holding. Meanwhile, Ethereum is trading at $4,245 at the time of writing, making a 7% rise in the last 24 hours. Its 24-hour trading volume is close to reaching $42 billion. Nonetheless, the sessions ahead will test whether the $4,000 price level becomes a lasting support or a momentary summit. Some analysts have suggested that short-term price pressure could follow, should ETH, moved by Binance, be positioned for active selling.…
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