Top Creditor Sells 12,100 ETH Following Genesis Trading Liquidation

• Genesis Trading’s largest creditor sold 12,100 ETH worth $31.43M over the past three days.
• The creditor received 114,502 ETH ($358.19M) in compensation from Genesis Trading on August 2.
• Significant transactions to FalconX indicate large-scale Ethereum movement in recent days.

A top creditor who received the highest Ethereum (ETH) compensation in Genesis Trading’s August liquidation recently sold 12,100 ETH, worth approximately $31.43 million. These transactions occurred over three days, with the first ETH movement starting on September 23. 

This creditor had previously received 114,502 ETH, valued at $358.19 million, from Genesis Trading on August 2, making them the largest recipient in the firm’s liquidation process.

The latest transactions carried out through FalconX, indicate a significant sale of 12,100 ETH. The most notable movements occurred within the past 16 hours, with one transaction involving 7,099 ETH, worth $18.56 million, and another for 1 ETH, valued at $2.63K. 

Source: EmberCN

Additionally, three days ago, two more transactions took place, one for 4,999 ETH ($12.87 million) and another for 1 ETH ($2.57K). These transactions highlight ongoing activity related to Genesis Trading’s liquidation payouts.

Furthermore, on August 2, Genesis Trading transferred 143,379 ETH, equivalent to $470.45 million, to an address identified as 0xC62…6C4. Over the past two months, these ETH have been distributed across multiple addresses, signaling the creditor’s methodical liquidation approach.

In the broader Ethereum market, the live price of ETH is currently at $2,614.97, with a 24-hour trading volume of $14.46 billion. Despite a slight decrease of 0.46% in value over the past day, the ongoing liquidation by Genesis Trading creditors has not significantly impacted the asset’s overall market performance. 

However, the movements of large amounts of ETH from prominent creditors like this one continue to raise attention within the crypto space.

Genesis Trading had been withdrawing large quantities of ETH from Coinbase and Coinbase Prime over the last 50 days, fueling speculation about the potential for further large-scale liquidations.

This creditor’s significant ETH sales reinforce the shifting dynamics of the Ethereum market as institutional players continue to adjust their holdings following the Genesis Trading liquidation.