• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Institutional Investors Move Significant Amounts of ETH to Exchanges

user avatar

by Giorgi Kostiuk

a year ago

  1. Current Institutional Investor Transactions
  2. Ethereum Price Fluctuations
  3. Comparison with Cryptocurrency Market Trends


    4. According to Onchain data, large institutional cryptocurrency investors made some big transactions today.

    Current Institutional Investor Transactions

    According to data provided by Lookonchain, Amber Group, a major cryptocurrency investment firm, sent 6,443 ETH worth $17.62 million to cryptocurrency exchanges Binance and Kraken in a transaction today. On the other hand, another cryptocurrency company, Cumberland, moved 6,439 ETH worth $17.66 million to the cryptocurrency exchange Binance in its latest transaction.

    Ethereum Price Fluctuations

    The possible sales made by these institutional investors, who can be defined as whale wallets, will also bring about a drop in the price of ETH. Ethereum lost approximately 3% of its value during the day, falling from around $2,770 to $2,685.

    Comparison with Cryptocurrency Market Trends

    It should also be noted that this decline is more serious than the general decline in the cryptocurrency market. In addition, ETH's weekly increase rate also lagged behind Bitcoin. While the BTC price increased by 7.5% in the last week, this rate remained around 3% in ETH.

    These transactions and the associated fluctuations in the price of Ethereum highlight the impact of institutional investors on the cryptocurrency market, and potential sales could continue to influence the price of ETH in the future.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

XRP Payment Volume Declines Amid Market Dynamics

chest

XRP's on-chain payment volume has dropped significantly due to market mechanics, not a decline in usage.

user avatarJesper Sørensen

High Trading Volumes on CME Amid Speculative Bitcoin to Ethereum Swap Claims

chest

High trading volumes on CME indicate continued interest in cryptocurrency trading, but no official metrics confirm the increase in Bitcoin to Ethereum swaps.

user avatarRajesh Kumar

Bitcoin Drops Amid Ongoing Fed Debate

chest

Bitcoin's value decreased as discussions about the Federal Reserve's independence and interest rates unfolded.

user avatarLucas Weissmann

XRP Price Prediction Turns Cautious as EMA Ribbon Flips Bearish

chest

XRP price prediction has become cautious due to the EMA ribbon turning bearish on higher timeframes, indicating potential downside risks.

user avatarFilippo Romano

Phantom Launches Cash Debit Card to Enhance Crypto Transactions

chest

Phantom has launched its Phantom Cash debit card in the US, facilitating seamless transactions between cryptocurrencies and fiat currencies.

user avatarTomas Novak

Grok AI's Misinformation Incident Raises Concerns Over AI Reliability

chest

Grok AI, developed by Elon Musk's xAI, spread dangerous misinformation about the Bondi Beach shooting, misidentifying the hero and raising concerns over AI reliability.

user avatarEmily Carter

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.