On-chain data has new developments. It has just been monitored that a wallet address associated with Paradigm Capital transferred 6300 ETH to a certain compliance trading platform, which is approximately 17.6 million USD at the current price.
Such a large transfer is either an institution adjusting its positions or preparing to cash out. Paradigm, as a well-known investment institution in the circle, their on-chain actions have always been regarded as a barometer. Although transferring to an exchange does not necessarily mean they will sell immediately, the liquidity of this magnitude of ETH will somewhat affect market sentiment.
Recently, the ETH trend has been a bit erratic, and now we see the big players moving. Retail investors will probably have to start pondering again—are they looking to offload or just changing positions?
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On-chain data has new developments. It has just been monitored that a wallet address associated with Paradigm Capital transferred 6300 ETH to a certain compliance trading platform, which is approximately 17.6 million USD at the current price.
Such a large transfer is either an institution adjusting its positions or preparing to cash out. Paradigm, as a well-known investment institution in the circle, their on-chain actions have always been regarded as a barometer. Although transferring to an exchange does not necessarily mean they will sell immediately, the liquidity of this magnitude of ETH will somewhat affect market sentiment.
Recently, the ETH trend has been a bit erratic, and now we see the big players moving. Retail investors will probably have to start pondering again—are they looking to offload or just changing positions?