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Institutions Suddenly Accelerate ETH Accumulation: Two Giants Withdraw Nearly $30 Million Within Hours
[BlockBeats] Interesting developments are emerging. On-chain data from December 8 shows that institutions seem to be accelerating their accumulation of ETH.
Amber Group transferred 6,000 ETH, worth about $18.8 million, from Binance just two hours ago. Shortly after, Metalpha also made a move, withdrawing 3,000 ETH, roughly $9.4 million, three hours ago.
The two executed their operations almost back-to-back, which feels somewhat coordinated. Either they’re optimistic about the short-term market trend, or there’s some news we don’t know about yet. In any case, with on-chain transfers being so transparent now, whenever large funds move, the whole network can see it.