In a significant development within the cryptocurrency landscape, COINOTAG reports on April 18th that MetalphaPro, a prominent crypto asset management firm, made a substantial move by depositing 25 million USDC into Binance shortly before executing a noteworthy withdrawal. Just an hour later, the firm withdrew 7,000 ETH, amounting to an approximate value of $11.12 million. This transaction is part of a broader trend, as since the beginning of April, MetalphaPro has reportedly withdrawn a total of 29,000 ETH from Binance, which translates to around $48.73 million. The average price at which these transactions occurred hovers near $1,680, reflecting the ongoing fluctuations in the crypto market. This level of activity underscores the increasing sophistication of institutional players in the digital asset space, emphasizing the importance of monitoring such movements for potential market implications.
Source: https://en.coinotag.com/breakingnews/metalphapros-strategic-moves-11-12-million-in-eth-withdrawn-from-binance-after-25-million-usdc-deposit/