BitGo Transfers $62.85M in ETH, Potential Implications for Market Liquidity

On November 28th, BitGo transferred 20,532 ETH, worth approximately $62.85 million, to a newly created wallet linked to BitMine. This transfer has sparked speculation about its motive, as it could signify strategic asset allocation or revenue management by BitMine. Despite the transaction being noted on Onchain Lens, no official confirmations have been issued from BitGo, BitMine, or industry regulators. 20,532 ETH represents a significant sum that has added to the liquidity pool of Ethereum.