A big crypto company just moved a lot of Ethereum (ETH) around, and it might mean bad news for the price.
What Happened?
A company called Metalpha took 10,000 ETH (worth about $26 million) out of a platform called Lido and sent it to Binance, the biggest crypto exchange. This is a big deal because it could mean they’re planning to sell it.
Why Is This a Big Deal?
When people move their crypto to an exchange, it often means they’re going to sell it. This could lead to a drop in the price of ETH.
What Does This Mean for ETH?
Right now, the price of ETH hasn’t changed much. But it’s still down a lot compared to earlier this year.
It’s too early to say for sure what will happen to the price of ETH, but this move by Metalpha is definitely something to watch.
