Elwood Technologies’ Large ETH Transfers Raise Questions Amid Acquisition Talks

On July 11, the on-chain analytics platform Lookonchain identified a large deposit and withdrawal of ETH from Elwood Technologies to and from Binance.

Some of the responses to the post on X suggested it was bullish, and others said it was market manipulation. Elwood Technologies was created by billionaire investor Alan Howard, co-founder of hedge fund Brevan Howard. However, Lookonchain reported that Golem “appears to have stopped selling ETH” and staked 40,000 ETH worth around $124.6 million on July 10.ETH prices have oscillated between $3,145 and $3,068 over the past 24 hours but have not really been impacted by these whale movements.

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