Anchorage Digital Unstake 8,052 ETH for Lido, Make $15.8M Profit
On-chain data dey show say Anchorage Digital, di first crypto bank wey get federal charter for US, don unstake 8,052 ETH (~$30.25M) from Lido. For dis amount, dem stake 7,576 ETH via Coinbase since August 2023 at average price $1,672 per token. Di combined price gains and staking yields wey dem get for dia ETH staking position bring dem about $15.8M profit. Di decision wey Anchorage Digital make show say institutions dey take profit, rebalance portfolio, and manage liquidity as Ethereum dey transition to Proof of Stake. E still show how liquid staking with Lido’s stETH tokens still dey attractive. Even though di direct effect on ETH price fit be neutral, traders suppose dey watch these big flows to understand di institutional feeling and di future market trend.
Neutral
While Anchorage Digital big unstaking of 8,052 ETH dey show say institution dem dey take profit and manage liquidity well, e no too get chance to make ETH price drop sharply for short time due to the gradual release from Lido and stETH liquidity buffer. For long term, this kain move mean say market dey mature and get confidence for Ethereum staking system, no too bullish or bearish. Traders suppose dey watch similar institution flows dem as sign of market feeling, but dis move alone e go likely get neutral effect on how ETH price go stable.