According to BlockBeats, Paradigm Capital has transferred a substantial amount of Ethereum (ETH) to the institutional custody platform, Anchorage Digital. The transaction, which took place on June 22, involved a total of 5817 ETH, equivalent to approximately 20.49 million USD.
The transfer was detected by Arkham, a blockchain monitoring platform, which reported the transaction approximately two hours after it occurred. This move by Paradigm Capital is significant as it indicates a substantial investment in Ethereum, one of the leading cryptocurrencies in the market.
Anchorage Digital, the recipient of this large transfer, is a prominent institutional-grade platform for digital asset custody. The platform is known for its high-security measures and is trusted by many large-scale investors and institutions for the safekeeping of their digital assets.
This transaction underscores the growing interest and investment in Ethereum and other digital assets by institutional investors. Paradigm Capital's substantial transfer to Anchorage Digital is a clear indication of the firm's confidence in the potential of Ethereum and the broader digital asset market.