Jump Trading Unstakes $29M In ETH from Lido Finance And Continues Redeeming WSTETH

Jump Trading has successfully unstaked 11,500 $ETH, valued at $29 million, from Lido Finance.

Additionally, in the past hour, they redeemed 16,210 $WSTETH into 19,049 $STETH. The 11,500 $ETH has been transferred to the wallet “0xf58,” which Jump Trading frequently uses to deposit $ETH to centralized exchanges (CEX).

Currently, Jump Trading still holds 21,394 $WSTETH (worth $63.6 million) and 16,292 $ETH (worth $41.3 million) across their wallets. Furthermore, 19,049 $STETH is in the process of being unstaked from Lido.

In a separate move within the last 14 hours, James_Fickle swapped 4,336 $ETH for $10.94 million, with an average entry price of around $2,523. Currently, he is holding $ETH valued at $426 million.

Market makers have also been actively depositing $ETH to exchanges. Over the last 24 hours, Wintermute deposited a total of 17,368 $ETH (approximately $43.17 million) to Binance. Similarly, 9 hours ago, GSR deposited 5,931 $ETH (approximately $15.05 million) to Binance.

Ethereum Spot ETFs Saw A Notable Net Inflow Of $98 Million

In related news, on August 6, the Ethereum spot ETF saw a total net inflow of $98.3 million. Grayscale’s ETF (ETHE) experienced an outflow of $39.7 million, while BlackRock’s ETF (ETHA) had an inflow of $110 million. Fidelity’s ETF (FETH) recorded an inflow of $22.5 million. The total net asset value of the Ethereum spot ETF now stands at $7.06 billion.

These substantial movements and inflows indicate significant trading activity and institutional interest in Ethereum, highlighting its continued relevance and potential for future growth in the cryptocurrency market.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: sinenkiy/123RF // Image Effects by Colorcinch

08.08.2024

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