Wintermute Continues Large-Scale ETH Withdrawals from Lido, Potential Sale Looms

Wintermute, a leading market maker, has continued its significant withdrawals of unstaked ETH from Lido.

Yesterday, the Wintermute address 0x13D…91F9F received a total of 11,007 ETH from Lido, valued at approximately $27.27 million. Shortly after, 5,501 ETH—worth around $13.8 million—was transferred to Coinbase, indicating a possible sale.

Wintermute 的 Lido 提款仍在继续💨

过去 9 小时 Wintermute 地址 0x13D…91F9F 累计从 Lido 处收到 11,007 枚解除质押的 ETH，价值 2727 万美金；随后将其中 5501 枚充值进了 #Coinbase，价值 1380 万美金

而近三天 Wintermute 已累计赎回 30,007 枚 ETH，并将 14,500 枚转移至交易所，疑似卖出 https://t.co/Ky12ryMsWo pic.twitter.com/fdSi6TFRbg

— Ai 姨 (@ai_9684xtpa) August 29, 2024

This marks the second major instance in recent days where Wintermute has withdrawn substantial amounts of Lido-staked ETH and deposited them onto exchanges. On August 27, the firm emerged as one of the few institutions executing large-scale redemptions from Lido. Wintermute had received 19,000 ETH from Lido, valued at about $49.4 million, and subsequently transferred the ETH to Coinbase in batches.

这是今天第二个大额提出 Lido 质押 ETH 并充值进交易所的机构了🚨

Wintermute 于过去半小时内收到从 Lido 解除质押的 19000 枚 ETH，价值约 4940 万美金，目前正在分批充值进 #Coinbase

截止目前已充值 8999 枚，预计还会继续🤔 https://t.co/DBVMVgURKR pic.twitter.com/EakPVVRQGn

— Ai 姨 (@ai_9684xtpa) August 27, 2024

14,500 ETH Moved To Coinbase 

Over the past three days, Wintermute has redeemed a total of 30,007 ETH from Lido, out of which 14,500 ETH have already been moved to Coinbase. This series of transactions strongly suggests that Wintermute is preparing for, or has already begun, selling off significant portions of its ETH holdings.

The timing and scale of these transactions have raised eyebrows in the crypto community, sparking speculation about Wintermute’s strategy and the potential impact on the market. Given the size of these transfers, any substantial sell-off could influence ETH’s price, especially considering the current market volatility.

As Wintermute continues to manage its large ETH holdings, the market is closely watching for any further developments. Whether this activity is part of a broader trading strategy or a response to market conditions, it underscores the influence that institutional players like Wintermute have on the crypto landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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