- Yobit Adds 76,118 iEthereum to their Wallet
Yobit Adds 76,118 iEthereum to their Wallet
Lets follow these iEthereum addresses
On October 17, 2023 Yobit’s iEthereum wallet added 76,118.09 iEth to their holdings.
These iEthereum were transferred into the Yobit wallet, within 25 minutes of each other, from 10 separate wallets.
Do to the nature of iEthereum currently being a low volume token, following the block explorer is relatively easy. And, we also can speculate certain logic that these transactions were coordinated amongst a team or individual with access to these multiple wallets.
As Yobit is a centralized exchange, we can not follow through on what the end result of these transactions were.
Did the iEthereum transferred get sold?
Are the iEthereum sitting in the the senders individual accounts on Yobit?
Do the originators want to prepare to sell with a foreseeable positive price action? Or to sell before a foreseeable negative price action?
Note: This article was written 7 days ago and scheduled for publishing October 25th, 2023. Since this writing we have seen a USD price increase in iEthereum of 20%.
Were these wallet addresses owned by Yobit and solely being used to hold iEthereum in a cold wallet prior to needing them in a hot wallet?
It is hard to tell. We do know that Yobit now holds 3,210,941.93309819 iEtherum in wallet address 0x9A56AE80A568BAe6E488cdB94F794cc1a7985F2E.
What we DO NOT know is how many Yobit clients hold iEthereum and how many iEthereum these clients hold. As we have seen and learned over the years; most of these centralized exchanges do not hold 1:1 on the digital assets their clients think they hold. Meaning, in this instance, if all the Yobit clients were to withdrawal their iEthereum holdings at once; would the 3.2 million iEthereum held in the Yobit hot wallet cover the total iEth holdings the clients think they possess in their individual Yobit account?
Not sure. Doesn’t matter as pertaining to this article.
The wallet addresses associated with the above transactions look to have accumulated their iEthereum over the course of the last 262 days.
The wallets we would like to keep a record of are as follows:
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