Jump Trading Cashes Out Over 36000 ETH, Transfers 11,500 ETH to Exchange
CryptoNewsTerminal Staff07 Aug, 2024
Jump Trading Cashes Out Over 36000 ETH, Transfers 11,500 ETH to Exchange
Jump Trading, a well-known cryptocurrency trading firm, has recently made a series of significant transactions involving Ethereum (ETH). In one such transaction, the firm transferred 11,500 ETH from its wallet to an exchange deposit address. This follows a recent transfer of 11,500 ETH to the same wallet, suggesting that Jump Trading is actively engaging in ETH trades. In addition to the transfer of ETH to an exchange deposit address, Jump Trading is also reportedly involved in an ongoing swap of 19,049 stETH into ETH. stETH is a token representing staked ETH on the Lido liquid staking platform. This swap indicates that Jump Trading is either reducing its staked ETH position or preparing to unstake its ETH. When combined with the previous transfer of 15,000 ETH and the swap of stETH, Jump Trading has effectively cashed out over 36000 ETH in recent transactions. This large-scale movement of ETH by Jump Trading could potentially impact the price of the cryptocurrency. It remains to be seen how these transactions will affect the market in the long term.
