The cryptocurrency universe went abuzz today, on December 6, following colossal transfers revolving around the Ethereum (ETH) cryptocurrency.
Interestingly, over the past 24 hours, three different digital exchanges moved 19,822 ETH to CEXs, as per market charts.
The amount of ETH moved to Binance and Coinbase collectively totaled $45.2 million at the time of writing.
A Closer Look Into The Report
Spot on Chain, a platform offering blockchain tracking metrics, recently portrayed data showcasing the massive transfer of Ethereum to CEXs Binance and Coinbase today.
According to the data, the first transaction that caught the eyes of crypto market enthusiasts was done by Galaxy Digital, a digital asset institution offering various trading insights and services. The transaction noted the transfer of 9,179 ETH, amounting to $20.9 million, to Binance, the world’s leading centralized cryptocurrency exchange, today. Meanwhile, Galaxy Digital’s current ETH holding amounts to 10,038 ETH, evaluating $22.8 million.
Furthermore, the second transaction that caught the eyes of traders and investors within the broader crypto market was done by Celsius Network. The crypto financial services provider company deposited 7,500 ETH to Coinbase recently, nabbing attention across markets. The amount of ETH transferred to Coinbase was evaluated to $17.05 million at the time of writing. Moreover, the institution’s total ETH outflow since November 14 totaled 44,769 ETH, as per market charts.
In addition to the above-mentioned transactions, a third transaction caught noteworthy attention among market enthusiasts, transferring 3,143 ETH to Coinbase, one of the world’s leading cryptocurrency exchanges. Reportedly, this transaction was also done today. Besides, the amount of ETH transferred to Coinbase totaled $7.21 million. Meanwhile, the total ETH outflow from FTX since October 24 totaled a whopping $54.3 million.
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ETH Price Jumps Amid Dumping Of Tokens To CEXs
As of writing, the Ethereum price witnessed a marginal upswing of 2.24% in the past 24 hours, reaching $2,259.48. Additionally, the token also noted a substantial surge of 10.07% over the past week, assisted by a 19.22% surge over the past thirty days.
However, the dumping of ETH to CEXs appears to come contrary to the aforementioned price surge witnessed by the token, as the circulation supply potentially increases.
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