Recent data shows that following Ethereum's price rise above $4000, Binance wallets began actively sending large amounts of Ether to addresses linked to Wintermute.
ETH Transfers
The activity started with relatively small batches of 250–500 ETH per transaction, but quickly escalated to much larger movements, including one transfer of over 3,000 ETH—worth more than $12 million at current prices.
Market Activity Analysis
Over the course of less than seven hours, these transfers added up to tens of thousands of ETH, routed to Wintermute-linked addresses across Bybit, Kraken, and its own market-making wallets. The timing was hard to ignore, as Ethereum had jumped from around $3,800 to $4,055 before losing momentum shortly after these outflows began.
Long-Term Ethereum Outlook
This market activity unfolds alongside significant developments within the Ethereum ecosystem. Just this week, SharpLink announced a $200 million raise, aiming to expand its Ethereum treasury to over $2 billion—a move seen by some as a sign of long-term institutional confidence in the asset.
For traders and investors, the next few days could be critical. Sustained selling from Wintermute's new ETH holdings could spark a pullback, but if the inflows are used strategically for market-making, Ethereum's push above $4,000 might prove more resilient than skeptics expect.
