Metalpha, a Hong Kong-based asset manager with ties to Bitmain, has deposited a large amount of Ethereum onto Binance.
According to information shared on Twitter by on-chain analytics platform Lookonchain on September 12, Metalpha transferred 6,999 Ethereum to Binance, the world’s largest cryptocurrency exchange. The company in question had previously deposited Ethereum into Binance many times, causing pressure on the price. The company made the last transfer 2 days ago.
The amount made today was worth around $16.4 million. Metalpha, which sent a total of 62,588 Ethereum to the platform in the last 6 days, made a huge transfer of $145.1 million in the process. The market value of the 23,500 Ethereum that the company currently holds is around $55 million.
According to CoinGecko data, a drop in Ethereum prices was observed, although it is not known whether it is related to the transfer. Ethereum is up 2.4% in the last 24 hours and is finding buyers at $2,340 at the time of writing.
Stay tuned for new information.