This week, a significant withdrawal of $126 million worth of Ethereum ($ETH) from exchanges suggests strategic accumulation in anticipation of the upcoming ETF launch.
This move highlights growing confidence among investors as they prepare for potential market shifts.
$126 million worth of $ETH was withdrawn from exchanges This week, signaling accumulation ahead of the ETF launch pic.twitter.com/ewtf3ly60y
— IntoTheBlock (@intotheblock) July 19, 2024
Bybit has recently released its twelfth proof of reserves, with the snapshot dated July 10. The report indicates a 5.62% increase in user Bitcoin assets, equating to an additional 2,386 BTC since June 6. Ethereum assets also saw a modest rise of 0.46%, while deposits of USDT surged by 17.81%, adding 433 million USDT.
Bybit released the twelfth proof of reserve (snapshot date July 10). User BTC assets increased by 5.62% compared to June 6, an increase of 2,386 BTC. User ETH assets increased by 0.46%. User USDT asset deposits increased by 17.81%, an increase of 433 million USDT.… pic.twitter.com/jEnpeQs2KH
— Wu Blockchain (@WuBlockchain) July 19, 2024
Following WarixZ Saga, Total Ethereum Holdings Of The Exploiter Surged To 59,097
In the wake of the WazirX exchange exploit, the total Ethereum holdings of the exploiter have surged to 59,097 ETH, valued at approximately $201 million. This figure includes 15,298 ETH worth $52 million stolen directly from the exchange. The remainder, 43,799 ETH valued at $149 million, was accumulated by liquidating various assets, including 5.43 trillion SHIB ($90.2 million), 20.5 million MATIC ($10.2 million), and 640.27 billion PEPE ($7.48 million).
The total $ETH holding of #WazirX exploiter has risen to 59,097 $ETH ($201M)!
Among these tokens:
15,298 $ETH ($52M) was stolen directly from the exchange;
43,799 $ETH ($149M) was acquired by dumping various assets, notably 5.43T $SHIB ($90.2M), 20.5M $MATIC ($10.2M),… https://t.co/v1sGzL6m7r pic.twitter.com/x23kGBsqyd
— Spot On Chain (@spotonchain) July 19, 2024
Interestingly, the exploiter has yet to take further action with these ETH holdings and currently holds around $12 million in alternative cryptocurrencies such as $CHR, $CELR, $OOKI, and $FRONT. This restraint in movement could signal a strategic wait before making any additional moves.
The recent activity underscores a period of accumulation and cautious optimism among investors, reflecting a broader trend of strategic positioning ahead of significant market events such as the ETF launch.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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Image Source: nexusplexus/123RF // Image Effects by Colorcinch
