Ethereum

Cryptocurrency

Celsius

Galaxy

Terra

<div class="finbold"> 
 <p class="paragraph">Ethereum (ETH) reached its yearly high of $2,310 per token on December 6. Amidst this surge, <a rel="dofollow" title="institutional" href="https://thebittimes.com/tag/institutional.html">institutional</a> <a rel="dofollow" title="giants" href="https://thebittimes.com/tag/giants.html">giants</a> deposited 19,822 ETH ($45.2 million) to cryptocurrency exchanges.&nbsp;</p> 
 <div></div>
 <p class="paragraph">Notably, Galaxy Digital, Celsius, and FTX have signaled their intention to sell a relevant part of their stacks. <em>SpotOnChain</em> gathered this data from known crypto wallet addresses of these <a rel="dofollow" title="giant" href="https://thebittimes.com/tag/giant.html">giant</a> <a rel="dofollow" title="institutional" href="https://thebittimes.com/tag/institutional.html">institutional</a> investors.</p> 
 <p class="paragraph">Moreover, Celsius and FTX have been constantly selling Ethereum and other tokens in 2023. Both companies filed for bankruptcy during the cryptocurrency bear market, which demanded these liquidations.</p> 
 <p class="paragraph">However, Galaxy Digital is still operational under Mike Novogratz’s leadership. Novogratz became known for his support of the collapsed Terra (LUNA) and a remarkable LUNA body tattoo.</p> 
 <h2 class="wp-block-heading" id="h-institutional-giants-eth-activity">Institutional Giants’ ETH activity</h2> 
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8"> 
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto"> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/06/1fe8b0e8113ca8934ad9680392171351.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="is-it-too-late-to-invest-in-ethereum"> Is it too late to invest in Ethereum? </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/05/f55901d8bfd89d2ec3af8c4005751771.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Banking 
       <h3 class="font-bold leading-6 " id="france-s-third-largest-bank-issues-its-first-green-bond-on-eth"> France’s third-largest bank issues its first green bond on ETH </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/06/f5289279cd2c6dc9931e81acbee6ebfd.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="top-5-altcoins-to-buy-in-december"> Top 5 altcoins to buy in December </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/05/0915da829b2a7d2b0372648514fe3fdd.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="brazil-s-largest-bank-launches-btc-and-eth-trading-platform"> Brazil’s largest bank launches BTC and ETH trading platform </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/06/3239c85886556632d6063ab683c0de0f.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="ethereum-prime-buying-moment-is-here-as-eth-eyes-3-500"> Ethereum ‘prime buying moment’ is here as ETH eyes $3,500 </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment"> 
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;"> 
  </div> 
 </div> 
 <p class="paragraph">Galaxy Digital made three separate transactions, depositing 9,179 ETH to Binance at an average rate of $2,278, resulting in $20.9 million moved. Despite this sizable transfer, Galaxy Digital’s wallets continue to hold 10,038 ETH, valued at approximately $22.8 million.</p> 
 <figure class="wp-block-image size-full">
  <img decoding="async" loading="lazy" width="956" height="508" src="https://cdn.thebittimes.com/images/2023/12/06/3199787483b4f8359fd1ace0cc11f4a4.webp" alt class="wp-image-141679" srcset="https://cdn.thebittimes.com/images/2023/12/06/3199787483b4f8359fd1ace0cc11f4a4.webp 956w, https://cdn.thebittimes.com/images/2023/12/06/3199787483b4f8359fd1ace0cc11f4a4.webp 300w, https://cdn.thebittimes.com/images/2023/12/06/3199787483b4f8359fd1ace0cc11f4a4.webp 768w" sizes="(max-width: 956px) 100vw, 956px">
  <figcaption class="wp-element-caption">
   Galaxy Digital on-chain portfolio. Source: <em>SpotOnChain</em>
  </figcaption>
 </figure> 
 <p class="paragraph">Celsius Network’s activity was also notable, as it transferred 7,500 ETH at $2,273 each to a Coinbase intermediate address identified as 0xc45, cumulating $17.05 million.</p> 
 <p class="paragraph">Since November 14, Celsius has moved a total of 44,769 ETH, tallying up to $94.7 million. Of this total, 37,269 ETH have already reached platforms, including Coinbase, FalconX, and OKX, averaging a transfer price of $2,084, amounting to $77.6 million.</p> 
 <p class="paragraph">Finally, FTX, shifting 3,143 ETH to Coinbase priced at $2,294 each, accounted for $7.21 million of the collective outflow. Cumulatively, FTX and associated entity Alameda Research have moved assets worth $573 million to exchanges since October 24, 2023, including 28,427 ETH with a value of $54.3 million.</p> 
 <p class="paragraph">These movements from key <a rel="dofollow" title="giant" href="https://thebittimes.com/tag/giant.html">giant</a> <a rel="dofollow" title="institutional" href="https://thebittimes.com/tag/institutional.html">institutional</a> investors to crypto exchanges may imply a readiness to sell. Essentially, this could potentially exert downward pressure on Ethereum‘s market value.&nbsp;</p> 
 <p class="paragraph">Interestingly, the timing coinciding with Ethereum’s one-year high suggests that these institutions are seeking to capitalize on the recent price spike.</p> 
 <p class="paragraph"> </p>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/rumors-of-ethereum-sell-off-by-3-institutional-giants-gain-traction-tbt72818.html">https://thebittimes.com/rumors-of-ethereum-sell-off-by-3-institutional-giants-gain-traction-tbt72818.html</a></p>

Rumors of Ethereum sell-off by 3 institutional giants gain traction

Table of Contents

TheBitTimes

Other articles published on Dec 6, 2023

EU Gets Serious About Data, Cites Web3 Browser Extension Swash

Lead Glassnode Analyst Expects Bitcoin Pump to “Correct” After Rally to $44k

PEPE Price Back In Action! Eye’s 50% Jump This Month?

Avalanche (AVAX) gets into top 10 crypto, with 100% jump

Cosmos Price Prediction: ATOM Jumps Above $10, Displays Breakout

Bitcoin Bull Rally Is Far From Over According To These Large Whales

Join our free newsletter for daily crypto updates!