Ethereum Whale Moves Abruptly Above $124,000,000 in ETH – Here’s Where Crypto Is Going
A deep-pocketed investor suddenly moves tens of thousands of Ethereum (ETH) tokens amid the uncertainty surrounding the crypto markets.
Blockchain tracker Whale Alert first spotted the transaction involving a major Ethereum holder who moved 97,273 ETH worth $124.69 million at the time of the transfer.
According to Whale Alert, the large crypto container was moved from an unknown wallet to another wallet of unknown origin. Since the funds were not transferred to a known exchange wallet where they could be sold in the open market, the whale likely moved the crypto holdings for safety reasons.
Other notable whale transactions recently on Whale Alert’s radar include:
•75,999 ETH worth $101.2 million transferred from one unknown wallet to another unknown wallet.
•50,000 ETH worth $66.5 million transferred from crypto exchange FTX to a wallet of unknown origin.
The transaction activity comes as wealthy ETH whales have accumulated billions of dollars of the second-largest crypto asset by market capitalization in just over a month, according to the market analysis firm Santiment.
“Since September 11th, Ethereum billionaire whale addresses with a million or more ETH have collectively added 3.5 million more coins. This has increased their cumulative bags by 14%. There are currently 132 such addresses.”
Meanwhile, Santiment finds that wallets with 100,000 to one million ETH unload the digital asset.
“Ethereum’s shark and whale addresses (which hold 100,000 to 1 million ETH) have dropped 3.3 million ETH in the last five weeks alone. This equates to around $4.2 billion in dumped coins. The asset’s price vs. Bitcoin has ebbed and flow based on [the] the behavior of these key stakeholders.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/ZubiZub
