News
Public · Published
ETH Price Nears $2,800 as FTX Estate Sends $75M in Ether to Wintermute
The FTX bankruptcy estate moved 27,372 ETH to market maker Wintermute on Tuesday, routed through six separate wallets, according to onchain analyst EmberCN.
Published:
Updated:
What happened
The FTX bankruptcy estate moved 27,372 ETH to market maker Wintermute on Tuesday, routed through six separate wallets, according to onchain analyst EmberCN.
Confirmed
Global impact / market context
Moving a large amount of Ether from a bankrupt estate to a market maker could signal preparation to sell, which may add selling pressure on ETH and affect investors holding the asset.
Analyst inference
Ether's price was near $2,800 when this transfer occurred, so a large inflow to a trading firm may influence short-term supply and demand for ETH.
Analyst inference
What to watch
- Watch whether Wintermute moves the 27,372 ETH from the six wallets to exchanges or other addresses. Confirmed
- The FTX estate may continue liquidating crypto assets to repay creditors, so further transfers could follow this one. Proposed
- If Wintermute sells or hedges the ETH, near-term price pressure could build, while holding it may reduce immediate supply impact. Analyst inference
Affected assets
- ETH — Ethereum