Jump Trading, a Chicago-based trading firm, has allegedly moved $29 million worth of ether (ETH) as the cryptocurrency’s price surpasses $2,500. The wallet associated with Jump Trading still holds more than 16,000 ETH, according to Spot On Chain. The movement of 11,500 ETH from the wallet, previously staked with Lido Finance, to an address owned by Jump Trading is seen as a potential preparation for selling or liquidating holdings. This follows a previous movement of $46 million worth of ether to centralized exchanges by a wallet attributed to Jump Trading, contributing to the recent sell-off in the ETH market. Despite the market volatility, the price of ether has rebounded to over $2,400, reflecting a recovery in both bitcoin and traditional markets.
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Jump Trading Allegedly Moves $29M in ETH as Ether Tops $2.5K
