Blockchain Capital, one of the most prominent venture capital firms in the cryptocurrency space, recently made some important changes to their Ethereum (ETH) holdings and associated tokens. Based on a tweet by OxScope, Jump Trading was confirmed in possession of the highest quantity of ETH, with 1.74 million of the coins loaded in Robinhood Custody and another 3.1K ETH ($5.9M) moved to Coinbase within a span of 24 hours. Meanwhile, heavyweights like Genesis, Paradigm, Voyager and Celsius are said to have done no major movement or have not made any transfers at all.

Alameda Research reported a notable drop in their ETH positioning of about 29.5% within the last week, with the majority of coins being taken out of circulation on Binance and Coinbase. Besides that, Fasanara’s ETH reserves have also seen a decline of 17.45%, a majority of which have been routed to Gemini during this time period.

Lookonchain discovered that Blockchain Capital sold off 65,352 RPL tokens ($2.9M) and 1.5M LSD coins ($2.52M). Currently, their wallets only hold 107,085 RPL coins ($4.52M) with no remaining LSD tokens. To further elaborate the magnitude of these transactions, the firm used 1,000 ETH to purchase 1.5M LSD (priced at $1.64 on average) and 600 ETH to buy 61,535 of the RPL tokens (priced at $35) from 8th October 2021. These were then sold at $2.33 and $44 respectively, which reaped them a combined profit of $2.14M- an impressive sum indeed.

The overall move hints at the organization’s pessimistic attitude towards LSD tokens, while they seem to be bullish on ETH. This represents the trend that is gradually emerging, where ETH is gradually becoming the favored cryptocurrency for investments and further progress. That being said, we advise investors to conduct their own research and conduct their investment strategy accordingly.



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