World’s Most Ancient Cryptocurrency Exchange Astonished by Enigmatic Transfer of 35,000 Ethereum (ETH)

An enormous volume of 35,000 Ethereum (ETH) was recently transferred to Bitstamp, the long-established crypto exchange, as reported by Whale Alert.

A closer examination reveals that the substantial transfer involved ETH worth approximately $88.3 million moving to Bitstamp’s hot wallet “0xf79” from “0xee47” in a single transaction. Whale Alert cannot confirm the identity of the initiator, but Arkham Intelligence suggests the sender might be the investment company WisdomTree.

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Well-known for its sizable ETF and fund holdings, WisdomTree managed around $100 billion in assets by 2024, including an array of altcoin investment products, with Ethereum being a component of its portfolio.

WisdomTree’s Involvement

Based on Arkham’s data, WisdomTree has more than $1 billion in digital assets, with 16,504 ETH, valued at close to $41.89 million. These figures only represent known addresses, while additional addresses thought to belong to WisdomTree are yet to be confirmed.

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The address “0xee47” might be associated with WisdomTree. This possibility is concerning because it represents a sum double of what has been confirmed as held by WisdomTree’s known addresses. Typically, shifting such large amounts to an exchange signals an impending sale.

The act of transferring alone could pose risks, yet if it is corroborated that WisdomTree is indeed offloading its Ethereum investments, the implications could be significant.