On-chain analyst Ember monitored and found that Jump Trading seemed to be selling ETH. Recently, they redeemed a wstETH worth $410 million (about 120,000) in batches into ETH and transferred it to exchanges such as Binance and OKX. In the 9 days starting from July 25, 83,000 wstETH were unpacked and redeemed into 97,500 ETH, of which 66,000 ETH (worth $191.4 million) have entered the exchange.
At present, there are still 37,600 wstETH untransferred from its wstETH storage address, 11,500 stETH in the redemption ETH address are being redeemed into ETH, and 20,000 ETH in the ETH transfer exchange address are waiting to enter in batches.
According to data from Arkham Intelligence, some market commentators also believe that a series of sell-offs by Jump Crypto is a factor that exacerbates market volatility. The trading company has sold hundreds of millions of dollars in assets in the past few days. BitMEX co-founder Arthur Hayes posted on social media that he learned from traditional financial sources that a "big guy" fell and sold all + communication Junyang: 954737157 crypto assets, most of the community speculated that it was Jump Crypto.
Affected by this, according to CoinGecko data, Ethereum's market value has fallen below the $300 billion mark. MarketCap data shows that due to the short-term decline of ETH, Ethereum's market value was surpassed by LVMH, Coca-Cola and Bank of America, falling to the 40th place in global assets. Its subsequent trend and market impact have attracted widespread attention and in-depth thinking.
