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Mysterious Multisig Wallets Withdraw ETH, Triggering $4K Price Surge
On December 15, two enigmatic multi-signature wallets, identified as 0x23a…dad and 0xc9c…d04, suddenly made their first-ever Ethereum withdrawals. The transactions were linked to a common creator address 0x7cf…617 and withdrew a combined total of 4,502 ETH, valued at approximately $17.54 million, from Binance. This unprecedented withdrawal has sent shockwaves throughout the cryptocurrency market, with Ethereum’s price surging to $4,022 shortly after.
The sudden appearance of these wallets, along with their significant transactions, has sparked widespread speculation about their ownership and intentions. Theories range from a new institutional investor, decentralized autonomous organization (DAO), or major individual investor testing the waters. Despite the lack of transaction history for these wallets, one thing is clear: Ethereum is increasingly attracting interest from big players.
The timing of this withdrawal, just as Ethereum was trading between $3,880 and $3,900, has sparked questions about its potential impact on the market. Did the withdrawal occur in anticipation of Ethereum’s recovery to $4,000, or did it instill confidence in the market, pushing the price up? Although the exact cause remains unclear, this event highlights the market’s sensitivity to large transactions.
The staking of ETH at this price level demonstrates strong confidence in the cryptocurrency. The recent activity from these mysterious multisig wallets underscores Ethereum’s growing appeal to major players. Whether these wallets belong to an institution, a DAO, or an individual, it is evident that Ethereum’s attractiveness has reached new heights.
Source: crypto-economy.com
