Summary
- Arrington Capital announced that it withdrew 2,489 Ethereum (ETH) from Coinbase.
- Of the Ethereum withdrawn by Arrington Capital, 8,480 were transferred to the staking service provider Figment.
- A large-scale withdrawal of virtual assets from exchanges is interpreted as expectations of a price increase and an intention for long-term holding.
Arrington Capital has withdrawn a large amount of Ethereum from Coinbase.
According to data from on-chain data platform Arkham Intelligence on the 19th (local time), Arrington Capital withdrew 2,489 Ethereum (approximately $6.28 million) from Coinbase on the 17th. Additionally, on the same day, Arrington Capital moved 8,480 Ethereum to the staking service provider Figment.
Such large-scale transfers of virtual assets (cryptocurrencies) from exchanges are generally interpreted as a reflection of expectations for a price increase of the respective asset. Moving holdings to a wallet is considered to be a decision made with long-term holding in mind.
Meanwhile, at 14:55 on this day, Ethereum is trading at $2,523 on the Binance Tether (USDT) market, down 0.52% from the previous day.
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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