Jump Trading Deposits Millions Worth of BTC To Multiple Exchanges

The investigative crypto platform Arkham (@ArkhamIntel) shared a post on Twitter yesterday about the broker-dealer Jump Trading, and its recent behavior in the market. According to the post, Jump Trading sent Bitcoin (BTC) worth a total of $26.6 million to various exchange deposit addresses.

Jump Trading transactions (Source: Twitter)

The post also mentioned that the main exchange deposit was to Binance, with Jump Trading sending $23.7 million worth of BTC to deposit addresses on the leading exchange platform. In addition to this, a further $2.18 million worth of BTC was sent to OKX, and $720k worth of BTC was sent to Bybit.

Jump Trading is a registered broker-dealer, and is also a member of various well-known exchanges including the CME Group as well as the New York Stock Exchange. The fact that Jump Trading sent millions worth of BTC to a number of exchanges could indicate a desire to sell some of its holdings, which could be detrimental to BTC’s price.

BTC price (Source: CoinMarketCap)

This has not been the case so far as CoinMarketCap indicates that BTC is one of the crypto currencies trading in the green today. At press time, BTC is worth about $28,900.94 after a 1.76% price increase over the last day. The crypto king is thus trading between its daily high of $29,995.84 and its daily low of $27,324.55.

The market leader was also able to strengthen against its main competitor Ethereum (ETH) by about 0.66% during this time. BTC is, however, still down by 0.13% over the last seven days. The crypto’s 24-hour trading volume currently stands at $35,609,837,575 after a more than 80% increase since yesterday.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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