Ethereum’s Price Slips as Paradigm Dumps 6,500 ETH to Coinbase
Ethereum, a prominent cryptocurrency, recently gained traction in the crypto market due to a significant transaction. Paradigm, an institutional liquidity network, dumped a substantial amount of ETH to Coinbase, a leading crypto exchange.
Paradigm Deposits 6,500 ETH to Coinbase: Report
According to data from Lookonchain, Paradigm deposited 6,500 ETH (worth $14.67 million) to Coinbase. Interestingly, Paradigm acquired these ETH at low prices and seems to follow a strategy of accumulating during bearish markets and selling during bullish markets.
Ethereum Price Dips
The Ethereum price has experienced a slight drop of 0.81% over the past 24 hours and is currently trading at $2,236. This dip coincided with Paradigm’s massive selloff.
Hot Take: Ethereum Faces Speculation Amidst Paradigm’s Transaction
The recent transaction by Paradigm dumping a significant amount of ETH to Coinbase has sparked speculation and attention in the crypto market. While Ethereum briefly traded in the green today, it quickly dropped following the transaction. This event raises questions about the potential impact of large institutional transactions on cryptocurrency prices and market sentiment.
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