The trading company Jump Trading, which is based in Chicago, has recently moved large amounts of Ethereum and wrapped claimed Ethereum, which has made people wonder what the company plans to do in the market. The company has done some important crypto deals in the last two weeks.
Recently, Jump Trading took back 11,500 Ethereum from Lido Finance, which is worth about $29 million. This Ethereum was sent to address “0xf58,” which is what the company uses to put ETH into controlled exchanges. This has led to rumors that Jump Trading might be getting ready to sell its shares.
Ethereum Holdings and Movements
Tracker of blockchain data Spot On Chain says that Jump Trading quickly changed 16,210 wrapped staked Ethereum into 19,049 staked ETH . The company still has 21,394 wstETH, which is worth $63.6 million, and 16,292 ETH, which is worth $41.3 million. More than that, Spot On Chain says that Lido is actively unstaking another 19,049 stETH.
Reports from earlier said that Jump Trading sent 17,576 ETH, worth $46.78 million, to different controlled exchanges within 24 hours, using only ETH that it owned. This has made a big difference in the amount of crypto assets the company has unstaked and in wallets.
Jump Trading has put $231 million worth of ETH into key exchanges like Binance, OKX, Bybit, Coinbase, and Gate.io in the last ten days. The company turned 83,091 wstETH, which was worth $341 million, into 97,600 stETH and took 86,059 stETH from Lido Finance, which was worth $274 million.
Because of this, 72,213 ETH, which is worth $231 million, have been added to these platforms.These major changes are in line with ETH recent market turnaround. In the last 24 hours, the price of ETH has gone up and down between $2,423 and $2,546, showing that prices are changing.
However, Jump Trading’s large liquidations have caused uncertainty, and some people think that these moves could cause more market changes. The company’s actions point to possible strategic moves that could have an effect on Ethereum’s market success soon.
