Since January 23, there has been a significant and sudden withdrawal of ETH from the exchange, resulting in an 800K ETH reduction in the on-exchange balance. This corresponds to approximately $1.76 billion at the average price of $2200.
Wintermute has also been actively accumulating ETH from the Binance exchange over the past 9 hours, with a total volume of $20.1 million. Wintermute appears to be bullish on ETH, especially considering recent updates related to the manipulation of the $PENDLE price.
Manipulation of PENDLE price, how? Are you telling me that because the market of PENDLE refuses to fall like other coins and tokens, it is being manipulated? I think you should rethink about that. You might also want to say that TRON which didn't fall much during the major bearish season when cryptocurrencies were falling is being manipulated as well? In my many years of trading and investment, I do not see what PENDLE is displaying as manipulation, I see it as a better market than others. When other cryptocurrencies were falling, and even as they are still falling now, the market only fell a little, which gives it is characteristics of a good market that is dependable.
In contrast to your claim, the market that is being manipulated will rise and fall sharply, and by this, the manipulators would have already made their money. But the case of PENDLE is just different, people who are buying it are HODLing their money in it and that is what is sustaining the market. If there are dumps, it will certainly fall, but people prefer to pump it the more, and this is reliability I see and not manipulation. I only hope I knew it would be like this, I would have owned this coin which I see as the best-performing token now.
As for Ethereum, it is normal, the cryptocurrency market has been greeted with a bearish trend after the Bitcoin ETF approval. The circumstances surrounding the ETF saga were too lousy and people bought Ethereum so much. You can't expect the asset that has been pumped for over 5 months not to have a tangible correction thereafter. This is what we see now, so it is perfectly normal.
