{"id":15912,"date":"2024-08-07T17:27:58","date_gmt":"2024-08-07T14:27:58","guid":{"rendered":"https:\/\/forklog.com\/en\/jump-trading-withdraws-29-million-in-eth-from-staking\/"},"modified":"2024-08-07T17:27:58","modified_gmt":"2024-08-07T14:27:58","slug":"jump-trading-withdraws-29-million-in-eth-from-staking","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jump-trading-withdraws-29-million-in-eth-from-staking\/","title":{"rendered":"Jump Trading Withdraws $29 Million in ETH from Staking"},"content":{"rendered":"<p>Trading firm Jump Trading has successfully withdrawn 11,500 ETH, valued at approximately $29 million, from the liquid staking platform Lido Finance, according to Spot On Chain.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Jump Trading successfully unstaked 11.5K <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> ($29M) from Lido Finance and continued to redeem 16,210 <a href=\"https:\/\/twitter.com\/search?q=%24WSTETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$WSTETH<\/a> into 19,049 <a href=\"https:\/\/twitter.com\/search?q=%24STETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$STETH<\/a> in the past hour.<\/p>\n<p>Note that the 11,500 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> has been transferred to the wallet &#8220;0xf58&#8221; which they often use to deposit <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> to CEX.<\/p>\n<p>Currently, Jump\u2026 <a href=\"https:\/\/t.co\/oZnrtNqr88\">https:\/\/t.co\/oZnrtNqr88<\/a> <a href=\"https:\/\/t.co\/EHP50yqbEA\">pic.twitter.com\/EHP50yqbEA<\/a><\/p>\n<p>\u2014 Spot On Chain (@spotonchain) <a href=\"https:\/\/twitter.com\/spotonchain\/status\/1821122064541216965?ref_src=twsrc%5Etfw\">August 7, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts report that the funds were transferred to a wallet frequently used by the firm for depositing Ethereum to centralized exchanges.<\/p>\n<p>Jump Trading still holds 21,394 wrapped wstETH ($63.6 million) and 16,292 ETH ($41.3 million). Additionally, 19,049 stETH ($46.6 million) are in the process of being withdrawn from Lido.<\/p>\n<p>In recent weeks, researchers tracked the transfer of approximately 100,000 ETH from the trading company&#8217;s wallets. On August 4, Spot On Chain recorded the dispatch of 72,213 ETH ($231 million) to various trading platforms, including Binance, OKX, Bybit, Coinbase, and Gate.io.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">[Update] Jump Trading moved another net amount of 17,576 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> ($46.78M) to CEX in the past 24 hours!<\/p>\n<p>This solely came from their existing <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> holding.<\/p>\n<p>Their remaining 37.6K <a href=\"https:\/\/twitter.com\/search?q=%24wstETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$wstETH<\/a> ($101M) and 11.5K <a href=\"https:\/\/twitter.com\/search?q=%24STETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$STETH<\/a> ($26.3M) still remain in their wallet and under the unstaking process\u2026 <a href=\"https:\/\/t.co\/fNn4RKejgf\">https:\/\/t.co\/fNn4RKejgf<\/a> <a href=\"https:\/\/t.co\/Koab3o8ybV\">pic.twitter.com\/Koab3o8ybV<\/a><\/p>\n<p>\u2014 Spot On Chain (@spotonchain) <a href=\"https:\/\/twitter.com\/spotonchain\/status\/1820300324047118518?ref_src=twsrc%5Etfw\">August 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The following day, Jump Trading addresses sent 17,576 ETH, worth approximately $46.78 million, to exchanges.<\/p>\n<p>Some experts have cited the firm&#8217;s actions and those of its associated market maker, Jump Crypto, as a factor in the market correction.<\/p>\n<p>Earlier, analysts at Lookonchain identified the movement of 789,533 ETH (~$2 billion) from wallets that had been inactive for about 3.3 years. These funds are linked to assets from the TokenPlus financial pyramid, seized by Chinese authorities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trading firm Jump Trading has successfully withdrawn 11,500 ETH, valued at approximately $29 million, from the liquid staking platform Lido Finance, according to Spot On Chain. Jump Trading successfully unstaked 11.5K $ETH ($29M) from Lido Finance and continued to redeem 16,210 $WSTETH into 19,049 $STETH in the past hour. Note that the 11,500 $ETH has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,46,1373],"class_list":["post-15912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-ethereum","tag-jump-trading"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=15912"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/15911"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=15912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=15912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=15912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}