Wintermute's Suspected Address Deposits $20M in ETH to Coinbase

Wintermute's Suspected Address Deposits $20M in ETH to Coinbase

Wintermute, a popular crypto market maker, has once again deposited a significant amount of ETH into centralized exchanges such as Coinbase. This time, the amount stands at 8006 ETH, with an approximate value of 20.53 million USD. This deposit adds to the previous 24,007 ETH (60.12 million USD) deposited to various centralized exchanges since the 27th of last month. The recent deposit brings the total deposited amount to over 32,000 ETH, or roughly $80 million. It's important to note that this is just one of many suspected Wintermute addresses, and the exact reason behind these large ETH deposits to centralized exchanges is still unknown. Some speculate that Wintermute could be preparing for a market downturn, while others believe they are simply moving funds to different exchanges for various trading strategies. According to the on-chain analyst ai_9684xta, the suspected Wintermute address currently holds approximately 6,000 ETH. This is significantly lower than the 32,000+ ETH deposited in the last few days, suggesting that Wintermute may have moved some of the funds elsewhere. The crypto market has reacted favorably to this news, with the price of ETH showing a slight uptick. Wintermute is a well-respected market maker, and their actions are closely watched by traders and investors alike. Their recent ETH deposits have sparked speculation about their future trading strategies and the potential impact on the crypto market.