200,000 BTC, More Than 1,000,000 ETH Left CEXes: Details

According to on-chain data, around 200,000 BTC worth $3.4 billion and more than 1 million ETH left various centralized cryptocurrency trading platforms, which makes it the biggest migration of funds from CEXes since 2021. Such a tendency is an indicator of a number of things.

(By Arman Shirinyan)

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Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.