Wintermute’s $43M Ethereum Transfer to Binance Signals Big Market Move!

The post Wintermute’s $43M Ethereum Transfer to Binance Signals Big Market Move! appeared first on Coinpedia Fintech News

As the Ethereum price continues to fall for the third consecutive day, Ethereum hits $2460, accounting for an 8.30% drop yesterday. With the third consecutive bearish candle, $ETH registered an 11.22% fall and currently trades at $2477, with a minor recovery of 0.78%.

Amid the sell-off rally, Wintermute, a prominent market maker, and a well-known Ethereum Whale, decided to move 14,759 ETH, worth around $36.26 million, to deposit over the Binance Exchange within 15 minutes. This comes as a broader strategy where the firm has decided to complete a transfer of 17,571 ETH over the exchange within a span of just 8 hours.

The total worth of the transfer volume is expected to be around $43.41 million. After collecting the Ethereum tokens from various exchanges, namely OKEx, Coinbase, Gate, Bybit, and Kraken, the sudden increase in Wintermute’s activity makes the market wonder if Ethereum will crash to $2,000.