Within a few hours, two large cryptocurrency wallets received ETH worth tens of millions of USD from reputable OTC sources.
The report on 4/8 from Lookonchain shows that wallet '0x86F9' received 24,294 ETH equivalent to about 86.48 million USD from FalconX in the last 6 hours, while wallet '0x40E9' received 15,627 ETH from Galaxy Digital's OTC wallet in 2 hours, worth about 55.6 million USD.
MAIN CONTENT
Wallet '0x86F9' received 24,294 ETH worth 86.48 million USD from FalconX in just 6 hours.
Wallet '0x40E9' was transferred 15,627 ETH worth 55.6 million USD from Galaxy Digital OTC in 2 hours.
ETH transfers are conducted from reputable OTC partners, reflecting large cash flow in the market.
How much ETH has wallet '0x86F9' received and what is the corresponding value over time?
Within 6 hours, wallet '0x86F9' received a total of 24,294 ETH from FalconX, estimated to be worth up to 86.48 million USD based on current market rates. The large amount of ETH in such a short time indicates a high-scale transaction conducted through the OTC channel.
FalconX is a reputable OTC cryptocurrency trading service provider, often handling large transactions to avoid negatively affecting price volatility on exchanges. The transfer of 24,294 ETH at once to wallet '0x86F9' indicates distribution activity or preparation for a large transaction by the team or organization owning this wallet.
Where did wallet '0x40E9' receive ETH from and what is its value?
The wallet '0x40E9' received 15,627 ETH from Galaxy Digital's OTC wallet within 2 hours, equivalent to about 55.6 million USD. This is a significant transaction, reflecting a considerable amount of money being transferred between centralized wallets related to large-scale cryptocurrency trading.
Galaxy Digital is a financial institution specializing in cryptocurrency with many investment and large OTC trading activities. The transaction between Galaxy Digital's OTC wallet and wallet '0x40E9' demonstrates fast allocation of hot cash to serve investment or short-term liquidity goals of the ETH market.
The strong movement of a large amount of ETH between OTC wallets confirms the important role of OTC trading channels in maintaining liquidity and price stability for the cryptocurrency market.
Cryptocurrency market analyst, Vietnam, 2024
What does large ETH transfer through OTC wallets reflect about the current cryptocurrency market?
Large-scale ETH transactions through OTC wallets like this show that the cryptocurrency market continues to maintain strong cash flow from major institutions. These transactions are often aimed at avoiding price pressure on public exchanges, contributing to liquidity stability and reducing price volatility.
Using OTC wallets to transfer ETH also aims to ensure privacy and optimize transaction costs for large investors or institutions. This demonstrates the professionalism and development of the cryptocurrency market in terms of institutional finance.
What factors should be considered when monitoring large ETH transactions through OTC wallets?
When observing ETH transactions through OTC wallets, investors need to recognize the origin of the transaction, the reputation of the transferring parties, and the purpose of moving the assets. Large transactions from reputable wallets can forecast important market movements.
Moreover, tracking transaction time and volume helps assess cash flow trends and the level of interest from ETH whales as well as financial institutions regarding the specific ETH asset during certain periods.
What are the potential risks in ETH transactions through OTC wallets?
Although trading through OTC wallets helps ensure security and limit price volatility, there are still risks related to legal issues, transparency, and anti-money laundering. Investors need to ensure that transactions are conducted legally and comply with current financial regulations.
Additionally, large transactions can also carry risks when price fluctuations or manipulations occur from whales or institutions holding large amounts of ETH. Therefore, market monitoring and reliable news sources are indispensable.
Frequently Asked Questions
What is wallet '0x86F9' and who is behind it?
Detailed information about the owner of wallet '0x86F9' has not been publicly disclosed, only that this wallet received ETH from FalconX in large OTC transactions.
Why is ETH often transferred through OTC wallets instead of directly through exchanges?
OTC trading helps reduce price impact on exchanges, ensures security, and processes large transaction volumes quickly and more efficiently.
What role does Galaxy Digital play in the cryptocurrency market?
As a financial institution specializing in investing, trading, and managing large-scale cryptocurrency assets, Galaxy Digital supports liquidity and OTC services.
How does large ETH transfer affect the market?
Usually reflecting large cash flow, which can cause volatility or forecast new trends in the cryptocurrency market.
How to effectively track ETH transactions through OTC wallets?
Investors use on-chain tools and reports from reputable sources to analyze volume, origin, and timing of transactions.
Source: https://tintucbitcoin.com/ethereum-whale-gia-tang-nam-giu-lon/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
