Fidelity Shifts $67.8M in Crypto Holdings; Whale Sells 40K ETH, Another Buys 17.9K
1min read Fidelity, a prominent investment firm, reported a significant net outflow of $46.1 million in FBTC (Fidelity Bitcoin Trust) and a net inflow of $21.7 million in ETH (Ethereum) yesterday. This shift in cryptocurrency holdings reflects the dynamic nature of the market and the strategic decisions made by the firm.
In related news, a large address that received a 114,500 ETH reimbursement following the Genesis Trading liquidation has sold 40,000 ETH over-the-counter (OTC). This transaction suggests that the address is taking advantage of the current market conditions to realize profits or reduce its exposure to ETH.
Meanwhile, a prominent whale, known for holding a substantial amount of ETH, has further increased its holdings by acquiring an additional 17,855.3 ETH. This purchase, valued at $36.68 million, indicates the whale's confidence in the long-term prospects of ETH and its willingness to invest significant capital in the cryptocurrency.
The USDC Treasury has also minted an additional 50 million USDC (USD Coin) on the Ethereum blockchain. This increase in the supply of USDC, a stablecoin pegged to the US dollar, may reflect growing demand for a stable and liquid cryptocurrency in the market.
In another development, a certain whale has increased its ETH holdings by 2,417 ETH, bringing its total accumulation to 13,671 ETH. This whale has an average entry price of $2,811 per ETH, indicating a strategic approach to acquiring the cryptocurrency at various price points.
These transactions and holdings adjustments highlight the ongoing activity and interest in the cryptocurrency market, particularly in ETH. As fidelity and other investors continue to monitor and engage in the market, the dynamics of cryptocurrency holdings and transactions will likely remain fluid and responsive to market conditions.