Analytics Firm Changes Strategy: Sells Large Amount of Ethereum and Makes Another Trade

In the last 3 hours, wallets affiliated with cryptocurrency analysis and investment company Matrixport deposited a total of 95,873 ETH (approximately $452 million) to Binance and OKX exchanges.

In the last 2 hours, 2,354.6 BTC ($272 million) was withdrawn from the same wallets from Binance and OKX.

This move is interpreted as the company selling ETH and buying BTC.

Another notable move in the Ethereum market came from the constantly buying and selling address 0x3c9E. This unlucky whale is known for selling during market dips and buying again when prices rise. His transactions in recent months are as follows:

• July 29 – August 3: 38,582 ETH ($136.9 million) sold, average price $3,548.
• August 8 – 15: 16,800 ETH ($74.3 million) were bought back, average price $4,424.
• August 16–20: 10,900 ETH ($47.6 million) sold, average price $4,369.
• Last 20 hours: 7,500 ETH ($35.6 million) bought back, average price $4,747.

Another notable move came from a major Bitcoin investor. This early-stage whale increased his Ethereum holdings by selling an additional 4,000 BTC (approximately $460 million). He has purchased 179,448 ETH ($806 million) so far, at an average cost of $4,490. He currently holds a long position of 135,265 ETH ($581 million).

*This is not investment advice.