Jump Trading Takes The Lead With 1.74 Million ETH, Alameda Research Sells Off

Blockchain Capital, one of the biggest venture capital firms in cryptocurrency, has made significant moves in its Ethereum (ETH) holdings and related tokens. The firm recently sold half of its $RPL as well as all of its $LDO, with the proceeds used to purchase additional ETH.

According to a retweet by OxScope, Jump Trading topped the list with 1.74M $ETH, mostly in Robinhood Custody but moved 3.1K $ETH ($5.9M) to Coinbase in 24h. Other big $ETH holders like Genesis, Paradigm, Voyager, and Celsius haven’t made major moves or haven’t moved at all.

Alameda Research saw a significant decrease of 29.5% in the past week, most of the $ETH being transferred to Binance and Coinbase, while Fasanara’s ETH holdings have recently decreased by 17.45%, with most of it being transferred to Gemini.

According to Lookonchain, Blockchain Capital sold 1.5M $LDO($2.52M) and 65,352 $RPL($2.9M) today and currently holds no $LDO and 107,085 $RPL($4.52M) in two addresses.

1/ 17-hour countdown until #Ethereum #Shanghai!

Blockchain Capital sold #LSD tokens today:
1.5M $LDO($2.52M)
65,352 $RPL($2.9M)

And currently holds no $LDO and 107,085 $RPL($4.52M). pic.twitter.com/hg17d0VJEG

— Lookonchain (@lookonchain) April 12, 2023

Blockchain Capital bought 1.5M $LDO with 1,000 $ETH ($2.52M at that time) at an average price of $1.64 from Jan 27 to Feb 21, 2022, then sold all $LDO at a price of $2.33 today and got 1,871 $ETH ($3.57M), resulting in a profit of $1.05M.

The firm also bought 59,236 RPL(new) with 2M $USDC at $34 on Apr 15, 2022, and bought 61,539 RPL(old) with 600 ETH($2.15M at that time) at $35 on Oct 8, 2021, and sold 65,352 $RPL for 1,522 $ETH($2.9M) at $44, resulting in a profit of approximately $1.09M based on the current price.

These moves suggest a bearish outlook on $LSD but a bullish one on ETH, as the firm has been increasing its holdings of the latter while divesting from the former. Blockchain Capital’s recent moves may signal a shift in the industry toward ETH as the preferred cryptocurrency for investment and growth.

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