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๐จ Large ETH on-chain abnormal activity alert!
Just now, 124,089.55 ETH (worth approximately $288 million) was transferred from Lido's stETH Token contract address to an unknown wallet.
๐ Transaction analysis:
ยท This is not a regular transfer, but a stETH redemption queue operation.
ยท Funds moved from Lido's official stETH contract โ redemption queue contract.
This indicates that large investors/institutions are preparing to exit stETH and convert back to ETH.
๐ฐ Impressive amount:
ยท 124,089.55 ETH โ $288 million
ยท Such a redemption volume could lead to:
ยท Short-term pressure on the stETH/ETH exchange rate
ยท Potential impact on Lido's liquidity pool
๐ง Possible motives:
ยท Whales timing their exit from staking, preparing to sell ETH?
ยท Or transferring to other protocols or exchanges?
ยท It could also be just reconfiguring on-chain assets, no need to panic excessively.
This article is an original analysis by "Haar H"
If you want to check on-chain data for other tokens.
๐ Leave the token name in the comment section, and I will help you look it up.
Follow "Haar H" to understand the on-chain truth together. $ETH