According to information from August 4, an institutional wallet withdrew 50 million USDT from Bitget and transferred it to the OSL exchange before receiving 14,006 ETH.
MAIN CONTENT
The institutional wallet withdrew 50 million USDT from Bitget on August 4.
Funds were transferred to the OSL exchange before buying ETH.
The purchase transaction of 14,006 ETH, with a total value of approximately 50 million USD.
What transaction did the institutional wallet make on August 4?
On August 4, an institutional wallet withdrew 50 million USDT from Bitget and transferred this amount to the OSL exchange to execute a purchase of ETH.
This move shows that this institutional wallet has a large trading strategy and is cautious in choosing exchanges, prioritizing liquidity and security to ensure efficiency in large token transactions.
How were the volume and value of the ETH transaction executed?
The institutional wallet purchased 14,006 ETH with an estimated value of about 50 million USD, equivalent to an average purchase price of 3,570 USD per ETH.
This price level reflects the price trend of ETH at the time of the transaction, and the large volume indicates institutional investors' interest in this leading cryptocurrency asset.
"Trading with such large volumes often indicates a trend of accumulation or preparation for strategic moves in the cryptocurrency market."
Cryptocurrency analyst, 2024
Why is the transfer of funds from Bitget to OSL noteworthy?
Transferring money from Bitget to OSL before buying ETH reflects the wallet's careful selection of exchanges to optimize transaction fees and cryptocurrency security.
OSL is known for its services for institutional clients, providing high security features and strong liquidity, suitable for large-scale transactions from professional investors.
Frequently Asked Questions
How does this institutional wallet's transaction affect the ETH market?
Buying a large amount of ETH can create liquidity and positively impact the price, reflecting institutional investors' confidence in this asset.
What is the reason for choosing OSL to receive approximately 50 million USDT?
OSL is highly regarded for its security and ability to handle large transactions, meeting the needs of institutional clients.
What does the average price of 3,570 USD per ETH reflect?
This price indicates the market trend at the time of the transaction and serves as a reference price for subsequent large transactions.
What special signs does the withdrawal of 50 million USDT from Bitget indicate?
This action may be a preparation step for a large transaction or a change in the investment strategy of the institutional wallet.
What trend does this transaction indicate in institutional investment with ETH?
It shows that large amounts of money continue to flow into ETH, affirming this coin's important position in the cryptocurrency market.
Source: https://tintucbitcoin.com/ethereum-quy-chi-50-trieu-usd-mua-eth/
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