Gamma Fund linked wallets deposit 10,976 Ethereum worth $23.9M to Binance

Wallets associated with Gammafund have deposited 10,976 ETH, valued at approximately $23.9 million, into the Binance exchange. Data from Arkham Intelligence reveals this move is part of a strategic profit-taking cycle. Having acquired significant amounts of Ethereum at an average price near $2,000, the fund is now capitalizing on price appreciation to realize gains. The fund has been systematically moving assets to Binance, following a pattern of accumulating during market lows and unwinding positions during periods of strength. Observers are now monitoring a potential additional transfer of 5,500 ETH from the liquid staking protocol ether.fi to see if the market can absorb this increased supply.

(Source：Crypto Briefing)