Cumberland quietly accumulates strongly $ETH – Clear accumulation signal

While the market is generally still in 'hibernation', Cumberland – one of the most productive Market Makers (MM) this season – is quietly taking strong actions around $ETH:

• 11 hours ago: Cumberland's wallet withdrew 15,200 ETH (~$42.9 million) from Binance. Notably, just 2 hours prior, this wallet had deposited $20 million into the exchange, indicating a high likelihood that this amount was used to accumulate the exact ETH that was just withdrawn.

• 24 hours prior: This wallet also took similar action – withdrawing 10,200 ETH (~$28.5 million) after previously depositing $30 million onto Binance 2 days ago.

• From the beginning of June to now: Cumberland has deposited a total of $160 million onto Binance and withdrawn 45,200 ETH (~$121.62 million).

Assessment

The continuous deposits of stablecoins and accumulation of $ETH, even when the price has not really broken out, shows strong accumulation signs from Cumberland. This is a positive signal for ETH in particular and the market in general, especially in the context of a market that still has many doubts and hesitations.

However, caution is also needed: With a flexible capital rotation strategy, MMs like Cumberland can quickly reverse course if the market does not move according to their expectations.

➡️ In summary: Cumberland's actions are a positive sign, but investors should still closely monitor market developments and the behavior of large institutions in the near future.

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