Cumberland Quietly Accumulates $ETH - A Clear Signal for Accumulation

While the market is still in hibernation, Cumberland - one of the most productive market makers this season - has made a strong move quietly around Ethereum ($ETH):

• 11 hours ago: Cumberland's wallet withdrew 15,200 Ethereum (about $42.9 million) from Binance. Notably, just two hours prior, this wallet deposited $20 million into the exchange, indicating a high likelihood that this amount was used to acquire the Ethereum just withdrawn.

• 24 hours ago: This wallet also took a similar step - withdrawing 10,200 Ethereum (about $28.5 million) after depositing $30 million into Binance two days ago.

Since the beginning of June: Cumberland has deposited a total of $160 million into Binance and withdrawn 45,200 Ethereum (about $121.62 million).

Comments

Cumberland's continued deposit of stablecoins and accumulation of Ethereum, even with its price not significantly rising, shows strong accumulation signals for Ethereum. This is a positive sign for Ethereum in particular and for the market in general, especially amidst ongoing uncertainties and hesitations in the market.

Nevertheless, caution should also be exercised: with a flexible capital rotation strategy, the direction of market investors like Cumberland could quickly shift if the market does not meet their expectations.

➡️ In summary: Cumberland's actions are a positive sign,