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Meitu’s Chairman Transfers US $6.27 Million to Coin An

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It is reported that according to the Twitter user ember monitoring, the friend address of Cai Wensheng, Chairman of Meitu, transferred 3800 ETHs (about US $6.27

Meitus Chairman Transfers US $6.27 Million to Coin An

It is reported that according to the Twitter user ember monitoring, the friend address of Cai Wensheng, Chairman of Meitu, transferred 3800 ETHs (about US $6.27 million) to Coin An 20 minutes ago and yesterday afternoon, and the price for buying ETH at this address 4 days ago was US $1431.

Cai Wensheng’s relevant address has transferred 3800 ETHs to Coin An since yesterday

Analysis based on this information:


The cryptocurrency world has witnessed the massive transfer of US $6.27 million to Coin An from the friend address of Cai Wensheng, Chairman of Meitu. The news has created a buzz in the digital currency community, and many have been pondering over the reasons for such a transaction.

The transfer of 3800 ETHs to Coin An, which is a Hong Kong-based cryptocurrency exchange, was reported by Twitter user ember monitoring. The update highlighted that the transfer was made 20 minutes ago and yesterday afternoon. Further, the report indicates that the friend address that initiated the transaction bought ETH at the price of US $1431 four days ago.

The transaction has raised questions on the motives behind the move, and many cryptocurrency enthusiasts are debating whether this is a hint of an upcoming crypto project by Meitu. Meitu is a Chinese technology company that has made a mark in the world of mobile video and photo editing apps. Last month, the company announced that it had invested US $22.1 million in cryptocurrency, including Bitcoin and Ethereum. This led to the market witnessing a surge in cryptocurrency prices.

The latest news has further fueled speculation over Meitu’s plans to develop its own cryptocurrency project. The company had earlier revealed plans to explore blockchain technology and create its digital currency. With the current trend of companies exploring blockchain and cryptocurrencies, it is not unreasonable to speculate that Meitu may be eyeing an entry into the market.

However, it is essential to consider the possibility that the transfer may not have anything to do with a potential crypto project. It may be a strategic move by Meitu to diversify its investment portfolio or a personal transaction by Mr. Cai himself. Nonetheless, the news has sparked curiosity among the industry players, and they will undoubtedly be keeping a keen eye on the unfolding events.

To sum up, the transfer of US $6.27 million to Coin An by Cai Wensheng’s friend address has created a stir in the cryptocurrency market. Whether it is an indicator of Meitu’s plans to enter the blockchain space or merely a diversification strategy remains to be seen. Nonetheless, the development has reinforced cryptocurrency’s growing importance in the financial market.

Keyword: Ethereum, Meitu, Cai Wensheng, Coin An, Cryptocurrency

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