Key Points:
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.
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.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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