Jump Crypto transferred cryptocurrencies worth over $200 Million to cryptocurrency exchanges.
The list of all moved cryptocurrencies includes USD Coin (USDC), Shiba Inu( SHIB), UniSwap (UNI), and Tether (USDT).
Lido Staked ETH (StETH) was trading at $2,356 with an intraday rejection of 19.07%.
Jump Crypto’s recent move fuels speculation that the firm is gearing up for a massive sell-off. The crypto division of Jump Trading has most recently transferred cryptocurrencies worth millions to several crypto exchanges.
According to the data available on Etherscan(dot)io, Jump Crypto has unstaked 120k staked- Ether valued at around $279.4 Million as of writing. Despite moving massive chunks, the firm still holds approximately staked Ether (StETH) valued at $125 Million (per writing) and wrapped Lido Staked Ether (StETH) amounting to $115 Million.
Jump Crypto moved cryptocurrencies, including USD Coin (USDC), Shiba Inu( SHIB), UniSwap (UNI), and Tether (USDT). Jump Crypto has been moving funding for the past few days, but the intent behind the transfer is still under speculation.
On-chain analyst EmberCN asserts that Jump has already unstaked $410 Million in Ether, and around $191 Million have already moved to the crypto exchanges.
Commodity Future Trading Commission asserts in its report that the transfer came five weeks following the departure of Kanav Kariya, the ex-president of Jump Crypto.
Cryptowhales usually move funds to exchanges to sell their assets for profit or to alter their losses.
Lido Staked ETH (StETH) Price Overview
As of writing, Lido Staked ETH (StETH) is trading at $2,356 with an intraday denial of 19.07%. Its intraday trading volume grew surprisingly by 938.24%, reaching $693,431,496, which makes it the 15th most traded cryptocurrency.
CoinMarketCap’s data notes that 55.43% of addresses hold between 1 – 1,000 Lido Staked ETH, followed by 40.26% of addresses holding 1,000- 100k StETH.
StETH hit its lowest trading price of $551.78 on December 24, 2020, while it reached its highest trading price of $4,982 on November 16, 2021.
Market Overview
The impulsive movement of funds’ by Jump Crypto has stirred market sentiment, mirroring massive losses. In the past 24 hours, the global cryptocurrency market capitalization fell over 11%, reaching $1.9 Trillion.
Bitcoin’s trading price fell over 14% intraday, sending it below $55k, although its trading volume surged over 95% to reach $54.42 Billion. Similarly, Ethereum (ETH) has lost 21.92% of its trading price at $2,305, but its 24-hour trading volume has soared by 160%.
Intraday Losers
Bittensor (TAO): -25.89% to $185
Ethereum Name Service (ENS): -23.21% to $15.68
Arbitrum (ARB): -23% to $0.4682
KuCoin (KCS): -22.44% to $6.82
Lido DAO (LDO): -22.27% to $1.04