Bitcoin slid to a three-month low on Monday and ether tumbled to its weakest level since March.
Asset manager Abraxas Capital transferred 14,130 ETH – worth roughly $22.5 million – to Bitfinex in two transactions, blockchain analytics firm Arkham Intelligence
in an X post. Major market maker Jump Trading sent nearly 236 BTC – worth $5.9 million – to Binance in one installment, Arkham added.that Wintermute, another large market maker, deposited more than $3.3 million in ARB to Binance over the past 8 hours. Smaller traders follow the on-chain maneuvers of large institutional traders as they are considered well-informed and have significant sway over the market. Sending tokens to exchanges may signal intention to sell, but it can also be part of market makers shuffling funds between different exchanges to provide liquidity.
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