On September 28, BlockBeats reported that ParaFi Capital transferred 5,134 ETH, worth approximately $13.84 million, to Coinbase Prime about five hours ago. This move has raised suspicions of a potential sale, according to on-chain data analyst Ember Monitoring.

Notably, this ETH was redeemed by ParaFi Capital from EigenLayer just yesterday. The firm had originally deposited the ETH into EigenLayer for mining in December of last year when ETH was priced at $2,175. This recent transfer highlights ParaFi’s strategic maneuvers in the evolving cryptocurrency market.

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