Cumberland quietly accumulates strongly $ETH – Clear accumulation signal
While the market is generally still in 'hibernation', Cumberland – one of the most productive Market Makers (MM) this season – is quietly taking strong actions around $ETH:
• 11 hours ago: Cumberland's wallet withdrew 15,200 ETH (~$42.9 million) from Binance. Notably, just 2 hours prior, this wallet had deposited $20 million into the exchange, indicating a high likelihood that this amount was used to accumulate the exact ETH that was just withdrawn.
• 24 hours prior: This wallet also took similar action – withdrawing 10,200 ETH (~$28.5 million) after previously depositing $30 million onto Binance 2 days ago.
• From the beginning of June to now: Cumberland has deposited a total of $160 million onto Binance and withdrawn 45,200 ETH (~$121.62 million).
Assessment
The continuous deposits of stablecoins and accumulation of $ETH, even when the price has not really broken out, shows strong accumulation signs from Cumberland. This is a positive signal for ETH in particular and the market in general, especially in the context of a market that still has many doubts and hesitations.
However, caution is also needed: With a flexible capital rotation strategy, MMs like Cumberland can quickly reverse course if the market does not move according to their expectations.
➡️ In summary: Cumberland's actions are a positive sign, but investors should still closely monitor market developments and the behavior of large institutions in the near future.
Crypto God of Wealth
While the market is generally still in 'hibernation', Cumberland – one of the most productive Market Makers (MM) this season – is quietly taking strong actions around $ETH:
• 11 hours ago: Cumberland's wallet withdrew 15,200 ETH (~$42.9 million) from Binance. Notably, just 2 hours prior, this wallet had deposited $20 million into the exchange, indicating a high likelihood that this amount was used to accumulate the exact ETH that was just withdrawn.
• 24 hours prior: This wallet also took similar action – withdrawing 10,200 ETH (~$28.5 million) after previously depositing $30 million onto Binance 2 days ago.
• From the beginning of June to now: Cumberland has deposited a total of $160 million onto Binance and withdrawn 45,200 ETH (~$121.62 million).
Assessment
The continuous deposits of stablecoins and accumulation of $ETH, even when the price has not really broken out, shows strong accumulation signs from Cumberland. This is a positive signal for ETH in particular and the market in general, especially in the context of a market that still has many doubts and hesitations.
However, caution is also needed: With a flexible capital rotation strategy, MMs like Cumberland can quickly reverse course if the market does not move according to their expectations.
➡️ In summary: Cumberland's actions are a positive sign, but investors should still closely monitor market developments and the behavior of large institutions in the near future.
Crypto God of Wealth
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ETH
2,505.08
-0.71%