Jump Trading has started liquidating some of its assets by transferring Ethereum from hot wallets to centralized exchanges (CEX), according to analysts from Spot On Chain.
According to their data, since July 25, the firm has transferred approximately 105,066 ETH to CEX, amounting to over $232 million (including 17,576 ETH in the last 24 hours). Experts speculate that this activity might be linked to the company’s attempt to lock in profits or redistribute assets in response to market changes.
In the wake of these events, the price of Ethereum has dropped by more than 24% in the past 24 hours. The price decline has caused a wave of concern among investors, which could lead to further drops. Analysts also note that Jump Trading’s future actions could significantly impact the cryptocurrency market in the near term.
