Almeda Research Transfers 15 M worth ETH to FTX, Is a Dump on the way? 

Key Takeaways: 

  • The crypto community is anticipating an ETH dump similar to BTC, that happened before the Luna fiasco. 
  • A transfer of 15 million worth of Ethereum has been initiated recently. 

After the recent Luna debacle, the transactions of large organizations are being monitored to predict the next big move in the market. Just before the downfall of Terra, the LFG foundation transferred huge amounts of BTC to several addresses. A similar incident has been noticed. Almeda Research has transferred Ethereum worth 15 million to FTX. 

Almeda Research is a leading quantitative trading firm. Its daily trading volume accounts for almost $5 billion. It was founded by Sam Bankman-Fried. The organization recently tapped into DeFi loans to raise funding. 

Established in 2019, FTX is one of the largest cryptocurrency exchanges and was also founded by Fried. Amidst the recent market crash, the crypto giant is gearing up to invest billions of dollars in acquisition.  

The recent transfer of ETH is making users anticipate a huge dump is on the way. Recently, the value of Ethereum is following a downward trend and the community is fearing another fiasco. 

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Shreya Bhattacharya

A journalist & writer exploring new topics every day!

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