Celsius Network and FTX, two cryptocurrency platforms, transferred large amounts of Ether to centralized exchanges, raising fears among investors about a potential market dump that could affect the cryptocurrency's price. Celsius deposited 7,500 ETH, worth approximately $17.4 million, in digital assets brokerage FalconX, while FTX moved 1,593 ETH, valued at around $3.66 million, to a specific crypto wallet address. These movements signal strategic reactions by the platforms to the positive market trend.
Celsius Network's recent transfer of 7,500 ETH to FalconX follows a previous transfer of 25,000 ETH, worth around $57 million, to FalconX and Coinbase. FTX, led by Sam Bankman-Fried, has been involved in significant cryptocurrency transfers totaling $551 million across 59 different crypto assets since October. Despite this, Ethereum's price experienced a slight dip to $2,269.91 with a 24-hour trading volume up by 14.8% at $12,971,906,218. However, Ether's price action shows a 0.53% decrease in the last 24 hours and a 3.9% loss over the past week.
The movements of Ether by Celsius and FTX to centralized exchanges have raised concerns among investors about a potential market dump and its impact on the price of the cryptocurrency. Despite Ethereum's recent price surge, the transfers by these platforms suggest strategic reactions to market trends.