Key Points
- Over 45,000 Ethereum (ETH) were deposited into exchanges on 8th April, coinciding with a price surge.
- Alameda Research deposited 4,000 ETH to Coinbase, marking its first significant move since February.
Over 45,000 Ethereum (ETH) were deposited into various exchanges on April 8th.
This coincided with a rise in ETH’s price, providing an opportunity for Alameda Research to capitalize on its holdings.
Alameda’s Significant Move
Spot on Chain’s data shows that Alameda Research of FTX deposited Ethereum into the Coinbase exchange.
The deposit was valued at approximately $14.7 million, with ETH trading at around $3,688 at the time.
This marked Alameda’s first significant move since February, aligning with a rally in ETH prices.
High Exchange Inflow
FTX and Alameda have deposited over 21,000 ETH, totaling more than $72 million.
This mirrors the market pattern observed on February 8th, characterized by a significant influx of ETH into exchanges.
Exchange Netflow data analysis revealed that Ethereum experienced its highest exchange flow for the month on April 8th.
The data indicated that more traders were depositing their holdings onto exchanges.
Over 45,000 ETH were deposited into exchanges on April 8th, suggesting that other traders, like Alameda, capitalized on the ETH price rally.
However, at the time of writing, there was a reversal in the flow, with more outflow recorded.
Over 35,000 ETH have been withdrawn from exchanges.
This might be due to the slight pullback in ETH’s price at the time of writing.
On April 8th, Ethereum experienced a significant surge, its largest increase in a while.
The daily timeframe chart showed a nearly 7% rise, with ETH closing at approximately $3,694.
Concurrently, the volume chart depicted a substantial increase in ETH volume, exceeding $19 billion as its price surged.
Despite a slight decline of over 1% at the time of writing, ETH’s price remained within the $3,600 region.
Ethereum maintained its current bull trend, as indicated by its Relative Strength Index.
Additionally, its volume showed an uptick, exceeding $20 billion at the time of writing, reflecting ongoing market activity and investor interest in Ethereum.
