Jump Trading Lookonchain Earns $116.7 Million

Jump Trading made $116.7 million with a massive liquidation strategy, involving selling ETH and converting USDC to USD.

<img src="https://static.bittime.com/cms-static/upload/Jump_Trading_Lookonchain_Earns_116_7_Million_a7b8a9d90f.webp" alt="Jump Trading Lookonchain Earns $116.7 Million" width="2048" height="1152"><meta charset="utf-8"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/en?cn=400001">Bittime</a> -&nbsp;Jump Trading made $116.7 million with a massive liquidation strategy, involving selling ETH and converting USDC to USD. This activity impacted the crypto market with large withdrawals from Binance and deposits to Coinbase.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_staking_coin_8abe277d88.webp" alt="staking koin di bittime" width="2985" height="620"></a><h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Jump Trading Lookonchain Earns $116.7 Million</h2>News from Shenzhen TechFlow states that, based on Lookonchain monitoring, Jump Trading has just cashed out another US$116.7 million. This is an event that occurred 11 hours ago, indicating that Jump Trading has made a lot of trades in the last few days.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Blog_7d687b658d.webp" alt="cara trading di bittime" width="2985" height="620"></a>&nbsp;Since Jump Trading started selling Ethereum (ETH) on July 24, they have withdrawn 611.78 million USDC from Binance, which then deposited 558.2 million USDC back to Coinbase. These fund movements indicate a significant liquidation strategy from Jump Trading, where USDC held on Coinbase will likely be converted to USD at a 1:1 ratio.<h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Jump Trading Liquidation Strategy</h2>In recent weeks, Jump Trading, known for its activity in the crypto market, has demonstrated a very active liquidation strategy. Starting by selling ETH in late July, the company has managed to raise more than half a billion USDC from one of the world's largest crypto exchanges, Binance. Then, they transferred most of these funds to Coinbase, the usual process for converting USDC to USD.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/en/blog/spectral-siap-luncurkan-syntax-v2">Spectral Ready to Launch Syntax V2 with Various New Features</a><h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Jump Trading Makes Profits</h2>The value of USDC deposited and received in USD is usually converted at a one-to-one ratio. Thus, Jump Trading can generate profits with fiat currencies which are more stable than crypto assets which tend to be volatile.<h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Impact on Crypto Markets</h2>The crypto market can be greatly influenced by Jump Trading's trading activities. They can influence the price of Ethereum in the market by selling a lot of ETH, especially if done in large amounts over a short period of time. Binance's massive withdrawal of USDC could also impact the exchange's liquidity.<h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Conclusion</h2>By cashing out US$116.7 million from their crypto trading activities, Jump Trading has once again made huge progress. The firm demonstrated its expertise in exploiting market opportunities to generate profits by using a liquidation strategy involving selling ETH and withdrawing USDC from Binance and depositing to Coinbase. In addition to impacting crypto market movements, their actions provide insight into the trading strategies used by big players in the sector.<meta charset="utf-8"><h2 style="line-height:1.7999999999999998;margin-bottom:6pt;margin-top:10pt;text-align:justify;" dir="ltr">How to Buy Crypto on Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_cara_beli_ab926002c1.webp" alt="cara beli crypto di bittime" width="2985" height="620"></a>You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy/?content_id=news&amp;cn=400001">Complete Guide How to Buy Crypto on Bittime</a>.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?content_id=news&amp;cn=400001"> of&nbsp;Bitcoin (BTC) price</a>,&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?content_id=news&amp;cn=400001">Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?content_id=news&amp;cn=400001"> Solana (SOL),</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.