Jump Trading Suspected Address Unstakes Massive Amount of ETH on Lido
CryptoNewsTerminal Staff12 Aug, 2024
Jump Trading Suspected Address Unstakes Massive Amount of ETH on Lido
Jump Trading, a prominent crypto market maker, has unstaked a whopping $370 million worth of ETH from Lido, a staking platform. The revelation was made by blockchain analytics firm Scopescan, which traced the transaction to a suspected Jump Trading address. Notably, Jump Trading has been linked to substantial ETH movements towards exchanges since late last month. Despite the recent unstaking, the suspected Jump Trading address still holds 21,390 wstETH, valued at approximately $64 million. The development highlights the continued activity of large players in the crypto market, with Jump Trading being a significant market maker known for its substantial trading volumes and market impact.
