Ethereum

<ul class="news-points wp-block-list" "wp-block-list"> 
 <li><strong>Jump Trading’s $410M ETH transfer to exchanges may indicate a potential sell-off.</strong></li> 
 <li><strong>Jump Trading’s wstETH conversions to ETH spark market speculation and uncertainty.</strong></li> 
 <li><strong>Ethereum volatility increases as Jump Trading moves significant ETH to major exchanges.</strong></li> 
</ul> 
<p>Trading firm, Jump Trading, recently converted a substantial amount of wrapped staked Ethereum (wstETH) into Ethereum (ETH), as noted by Wu Blockchain on X (formerly Twitter).</p> 
<p>The firm converted 120,000 wstETH, valued at $410 million, into ETH and subsequently moved this large sum to major crypto exchanges such as <a href="https://coinedition.com/binance-tops-in-volume-and-liquidity-ahead-of-okx-and-other-crypto-exchanges/">Binance and OKX</a>. This action has raised eyebrows within the crypto community, potentially signaling a sell-off of Ethereum.</p> 
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   <p lang="en" dir="ltr">Jump Trading recently redeemed $410 million worth of 120,000 wstETH into ETH and then transferred it to CEXs such as Binance and OKX. Since July 25, 83,000 wstETH have been redeemed into 97,500 ETH, and 66,000 ETH (worth $191.4 million) have entered the exchanges.…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1819917456632348687?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">August 4, 2024</a>
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<p>Since July 25, Jump Trading has redeemed 83,000 wstETH into 97,500 ETH over nine days. Of this, 66,000 ETH, worth approximately $191.4 million, have already been …</p>
<p>The post <a href="https://coinedition.com/jump-trading-unwraps-410m-wsteth-fuels-ethereum-sell-off-fears/">Jump Trading Unwraps $410M wstETH, Fuels Ethereum Sell-Off Fears</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Jump Trading Unwraps $410M wstETH, Fuels Ethereum Sell-Off Fears

Coin Edition

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