tl;dr
On July 11, Lookonchain reported a significant deposit and withdrawal of ETH from Elwood Technologies to Binance. The Elwood-linked address deposited 26,811 ETH worth around $83 million to Binance over the past three days and withdrew 24,463 ETH worth around $76 million from the centralized exchange...
Lookonchain identified large ETH deposit and withdrawal from Elwood Technologies to Binance. Elwood Technologies, linked to billionaire Alan Howard, made significant ETH movements. Standard Chartered considering acquisition of Elwood Capital; Golem also involved in large ETH movements...
On July 11, Lookonchain reported a significant deposit and withdrawal of ETH from Elwood Technologies to Binance. The Elwood-linked address deposited 26,811 ETH worth around $83 million to Binance over the past three days and withdrew 24,463 ETH worth around $76 million from the centralized exchange over the past two days. This sparked speculation about potential selling pressure and market manipulation. Elwood Technologies, led by billionaire investor Alan Howard, is also in the spotlight due to news of investment bank Standard Chartered considering an acquisition of part of Elwood Capital, a subsidiary of Elwood Technologies. Standard Chartered's move would support a shift towards OTC settlement services and virtual asset service provider licenses...
Despite these whale movements, ETH prices have not been significantly impacted, trading at $3,110 at the time of writing, down 3% over the past week. There is hope that an imminent spot ETF launch in the United States will boost sentiment and prices for ETH. On July 11, the on-chain analytics platform Lookonchain identified a large deposit and withdrawal of ETH from Elwood Technologies to and from Binance...
Some of the responses to the post suggested it was bullish, and others said it was market manipulation. Elwood Technologies was created by billionaire investor Alan Howard, co-founder of hedge fund Brevan Howard. Large movements of ETH from corporations, governments, or financial institutions often rattle markets as fears of selling pressure increase. However, it remains unclear what Elwood Technologies is planning...
There have been other large Ethereum movements this week that have raised eyebrows. The Golem decentralized computing platform and one of the earliest ICO projects has also been moving a lot of ETH to centralized exchanges. However, Lookonchain reported that Golem “appears to have stopped selling ETH” and staked 40,000 ETH worth around $124.6 million on July 10...
This week, CryptoPotato reported that Ethereum staking had reached record levels of 47.36 million ETH, accounting for around 34% of the entire supply. ETH prices have oscillated between $3,145 and $3,068 over the past 24 hours but have not really been impacted by these whale movements. The asset has moved off its intraday low to trade at $3,110 at the time of writing but remains down 3% over the past week. Additionally, ETH has retreated around 24% since its 2024 high of just over $4,000 in mid-March...
Investors hope that an imminent spot ETF launch in the United States will boost sentiment and prices for the world’s second-largest digital asset...