💥 Whale Movements: $24.7 million of ETH transferred to Coinbase, suspected to be ready for liquidation!
On-chain analysts monitored that a whale/institutional address that had not been operated for 15 months transferred all 10,281 ETH (worth $24.7 million) to Coinbase 30 minutes ago, suspected to be ready for a large-scale liquidation💸.
This batch of ETH was mainly extracted from exchanges such as FTX US, Gemini, Coinbase, Kraken, etc. at a price of $1,504 per coin in 2022-2023. If sold this time, the address is expected to realize a profit of up to $9.23 million💰.
Viewpoint analysis:
This huge ETH transfer may trigger market fluctuations, especially in the short term, it may put downward pressure on ETH prices📉. However, this may also be a signal that whales are re-positioning after profit-taking, reminding investors to pay close attention to market trends and operate with caution⚠️.
