More than $500 million in Ethereum have been moved by the Whales as volatility in the crypto markets picks up

More than $500 million in Ethereum have been moved by the Whales as volatility in the crypto markets picks up

More than $500 million in Ethereum have been moved by the Whales as volatility in the crypto markets picks up

On Tuesday and Wednesday, large holders of Ethereum exchanged more than $500 million across 13 distinct transactions.

A transfer of 28,272 ETH, worth more than $90.8 million, is one of the greatest single Ethereum whale transactions. According to the crypto tracker Whale Alert, the cryptocurrency was sent from one unidentified wallet to another. The same sending wallet sent another 28,272 ETH to a third unknown wallet two minutes later.

A wallet delivered 27,425 ETH worth more than $88.1 million to an unknown wallet in a similar sequence of actions. In a second transaction, the sending address sent nearly the same amount to another unknown wallet.

On Wednesday, the cryptocurrency exchange Kraken sent seven distinct ETH transactions to one unknown wallet in a two-minute timeframe. Each time, Kraken sent 3,200 ETH worth more than $10.2 million, totaling 22,400 ETH worth more than $71 million.

Other notable transactions include Gemini sending 10,000 ETH worth more than $32 million to Binance and Bithumb sending 12,000 ETH worth roughly $38.6 million to an unknown address.

According to CoinGecko, Ethereum is currently(Thursday) trading at $3,109.70, down from a recent high of $3,346.21.

By market capitalization, the second-largest crypto asset is up 3.6 percent this week and 41.1 percent this month.

Social share
Default image
Technology insight

Online Tech Magazine/Website where you will get all the latest news/articles/stories/reviews/unique perspective on modern technologies like Cryptocurrencies, Blockchain Technologies, NFTs, Artificial Intelligence, Deep Learning, Machine Learning, Quantum Computing and much more

Leave a Reply