These Firms Are Behind Frequent Ethereum (ETH) Price Dump

The recent fluctuations in Ethereum’s price have drawn attention to the involvement of major players like FTX and Alameda Research. In the past days, data from Spot on Chain shows these entities have been actively moving significant amounts of Ethereum, totaling 6,500 ETH valued at $24.57 million, to Coinbase. Interestingly, these transactions have been closely followed by notable drops in Ethereum’s market value, indicating a potential correlation between the movements of FTX and Alameda Research and Ethereum’s price dynamics.