According to a report from Whale Alert, a whopping 35,000 Ethereum (ETH) tokens were sent to Bitstamp, the world's oldest cryptocurrency exchange.
Digging deeper into the details of the large amount of deposits revealed that in just one transfer, $88.3 million worth of ETH tokens were sent from address “0xee47” to Bitstamp hot wallet “0xf79.” Although the Whale Report identifies the sender as an unknown entity, data from Arkham Intelligence claims that Wisdom Tree may be behind the transfer.
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WisdomTree is one of the largest players in the ETF and fund market, both as a sponsor and as an asset manager. As of 2024, the company reportedly has around $100 billion in assets under management, some of which is of course allocated to Ethereum, and several altcoin-based investment products have been created by WisdomTree. It's on sale.
Could WisdomTree be behind it?
According to Arkham, the company holds more than $1 billion in digital assets, specifically 16,504 ETH, worth about $41.89 million. However, this is only a known address, but not known for sure, as there are several other wallets that may belong to this investment company.
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If “0xee47” actually belongs to WisdomTree, that could be a worrying sign, considering the company has twice as many confirmed addresses. Conventional cryptocurrency wisdom holds that such large transfers to exchanges are a precursor to a major selloff.
The mere fact of the transfer could create vulnerabilities, but it would be a completely different story if it were confirmed that WisdomTree would dispose of its Ethereum holdings.
