According to ChainCatcher, blockchain data analysis platform The Data Nerd has detected a remarkable Ethereum transfer activity. Two hours ago, Flow Traders received 12,160 ETH from its sub-wallet, worth about $40.85 million. Immediately afterwards, Flow Traders deposited 6,000 ETH, about $20.23 million, into the two major exchanges, Coinbase and OKX. This series of operations has triggered market speculation about its intentions. Is it preparing for arbitrage trading, or is there another strategic layout? Market participants need to pay close attention to subsequent developments to better understand the potential impact of such large transfers on the market.