Ethereum

2024

Million

Spot

<p>The post <a href="https://coinpedia.org/news/ftx-alameda-behind-ethereum-price-drop-secretly-dump-24-57-million-eth/">FTX, Alameda Dump $24 Million in Ethereum on Coinbase; Investors Panic</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a move rattling the crypto world, bankrupt exchanges FTX and Alameda have unloaded $24.57 million worth of Ethereum on Coinbase. This fire sale of ETH has coincided with price dips, sparking speculation of market manipulation or a deeper game at play. </p> 
<p>Was this a desperate attempt to regain control, or a strategic move with hidden motives? </p> 
<p>Dive deeper to uncover the reasons.</p> 
<h2 class="wp-block-heading" id="h-big-players-making-moves"><strong>Big Players Making Moves</strong></h2> 
<p>Spotonchain, a reliable blockchain tracker, recently uncovered a series of transactions involving FTX and Alameda Research, particularly focusing on <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">Ethereum</a>.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw">#FTX</a> and <a href="https://twitter.com/hashtag/Alameda?src=hash&amp;ref_src=twsrc%5Etfw">#Alameda</a> wallets appear to frequently move out <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ahead of a dump!<br><br>In the past 15 days, FTX and Alameda Research have deposited 6,500 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ($24.57M) to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a> at ~$3,780 via 7 transactions.<br><br>And the market dipped following 5 out of 7 transactions (pic <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;">)!… <a href="https://t.co/STOtHBDChE">pic.twitter.com/STOtHBDChE</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1768567548142879061?ref_src=twsrc%5Etfw">March 15, 2024</a>
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<p>Over just 15 days, they dumped 6,500 ETH into Coinbase, worth about $24.57 million. What’s puzzling is that these transactions happened when Ethereum’s price was around $3,780 per coin.</p> 
<p>Notably, at the time of five out of the seven transactions, the Ethereum market price <a href="https://coinpedia.org/crypto-live-news/layer-2-blockchain-solutions-cost-drop-amidst-ethereums-dencun-upgrade/">experienced significant dips</a>. As of now, neither FTX nor Alameda Research has publicly commented on these transactions or the speculation surrounding them.&nbsp;</p> 
<p>Read More: <a href="https://coinpedia.org/news/blockfi-nears-full-customer-repayment-with-874-5-million-ftx-and-alameda-claim-agreement/">BlockFi Secures $1 Billion Deal with Bankrupt FTX, Customers Eye Full Repayment</a></p> 
<h2 class="wp-block-heading" id="h-deciphering-the-mystery">Deciphering the Mystery </h2> 
<p>In addition to Ethereum, FTX, and Alameda Research have also moved significant amounts of other cryptocurrencies during this period. A total of $6.26 million worth of various assets, including ALI, GAL, TONCOIN, WAVES, OHM, HGET, TLM, and MTA, were transferred out.&nbsp;</p> 
<p>While the reasons behind these movements remain unclear, the timing of these transactions adds another layer of intrigue to the situation.</p> 
<h2 class="wp-block-heading" id="h-what-are-people-saying">What are People Saying?</h2> 
<p>The correlation between the movements of Ethereum by <a href="https://coinpedia.org/news/pantera-capitals-plan-to-get-discounted-sol-tokens-from-ftx-estate/">FTX</a> and Alameda Research and subsequent price downturns has led to speculation within the cryptocurrency community.&nbsp;</p> 
<p>Some observers suggest that these transactions may be indicative of market manipulation or strategic positioning by these entities. However, others urge caution, emphasizing the many facets of cryptocurrency markets.</p>

FTX, Alameda Dump $24 Million in Ethereum on Coinbase; Investors Panic

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