Amber Group Funds Binance With $10.82 Million in ETH Ahead of Price Surge

IconCryptoNewsTerminal Staff16 Aug, 2024

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Amber Group Funds Binance With $10.82 Million in ETH Ahead of Price Surge

Blockchain analytics firm ScopeScan reports via social media platform X that crypto market maker Amber Group deposited 4,000 ETH ($10.82 million) to Binance before Ethereum's price spiked to an intraday high of $2,660 on August 11. Following the deposit, Amber Group's total ETH holdings climbed to 47,000 ETH, approximately $12.4 million, marking the second-largest allocation in the group's portfolio. This strategic move by Amber Group suggests a bullish outlook on the Ethereum market and aligns with the recent surge in ETH prices.