Institutional Crypto Investors Move Over $1 Billion in BTC and ETH

Institutional crypto investors have been active over the past 48 hours, moving nearly $1 billion in Bitcoin and Ethereum according to on-chain data.

An unidentified entity sent 52,739 ETH worth about $129 million to six centralized exchanges including Binance and OKX. This represents a significant move for this entity, but it still holds 101,561 ETH valued at around $249 million.

Cumberland, an institutional crypto trading firm, moved in the opposite direction during the same time period, withdrawing 15,390 ETH worth approximately $37.66 million from Binance to custody wallets.