A wallet linked to Nansen CEO Alex Svanevik reportedly sent approximately $1.41 million worth of cryptocurrency to Coinbase. The transaction, tracked by on-chain analyst EmberCN today, included Ethereum, Lido DAO, and yearn.finance assets.
According to the data provided, the wallet transferred 382 ETH, 1 million LDO, and 14 YFI to the exchange. The value of the ETH at the time of the transaction was estimated at approximately $957,000, the LDO at $423,000, and the YFI at $33,000.
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Ethereum constituted the largest portion of the transfer package in terms of dollar value. Although the amount of LDO was higher in terms of quantity, the total value of the ETH sent exceeded the combined value of the other two assets.
The association of the address with Svanevvik is based on the analyst’s observations. Therefore, the move is not interpreted as Nansen selling corporate assets or withdrawing funds from its balance sheet.
LDO and YFI are known as established altcoins in the decentralized finance world. Lido Finance, as an Ethereum liquid staking platform, gained significant popularity for a period.
*This is not investment advice.
Continue Reading: A Wallet Linked to Nansen’s CEO Sent Three Altcoins to Coinbase