Analysis: Jump Trading is suspected of selling a large amount of ETH

BlockBeats news, on August 4, according to EmberCN monitoring and analysis, Jump Trading may be selling ETH: they are currently redeeming a wstETH worth $410 million (120,000) in batches into ETH and then transferring it to trading platforms such as Binance/OKX.

So far, they have redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH ($191.4M) have entered the trading platform. Specific path:

· wstETH is transferred from 0x48d...575 to 0x986...8c6;
· 0x986...8c6 unpacks wstETH and redeems it into ETH and then transfers it to 0xf58...621;
· 0xf58...621 transfers ETH to trading platforms such as Binance/OKX.

Currently, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address are being redeemed into ETH; and 20,000 ETH are waiting to enter the trading platform in batches.