This is how Wintermute manipulated the price of $ETH during the dip this morning...
3 hours ago, Wintermute withdrew $97.61M from #AAVE and deposited it directly onto Binance and Coinbase.
1 hour later, this wallet withdrew 30K $ETH ~ $79.67M from Binance and 7.5K $ETH ~ $18.3M from Coinbase. This amount matches the $77M sent to Binance and $20M sent to Coinbase – indicating that the entire $USDC was used to buy the dip during the $ETH movement.
What’s special about this wallet is that it did not use leverage. The entire amount of $USDC deposited for lending on #AAVE was fully withdrawn this morning.
The wallet has shown signs of accumulating $ETH since 3 days ago. All the $ETH held has been staked long-term on Lido.
This behavior indicates that Wintermute has timed the volatility of $ETH very well, actively accumulating stablecoins and preparing for the dip. Not using leverage, combined with long-term staking, shows that Wintermute has great confidence in the medium to long-term bullish cycle of $ETH.
I’ve put the wallet link in the 52Hz Database
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