Ethereum whales move $ 500 million across 13 trades

The roller coaster ride of the crypto market caused Wale to transfer over $ 500 million in Ethereum in 13 independent trades on Tuesday and Wednesday this week, The Daily Hodl reported on Thursday (Aug. 26).

Whales – individuals or companies that hold a large amount of a particular cryptocurrency – are taking advantage of a market boom and dumping a tremendous amount of Ethereum into unknown wallets, according to the report.

Ethereum, a blockchain platform with its own cryptocurrency called Ether (ETH) or Ethereum, is the second largest crypto after Bitcoin.

See also: Bitcoin Daily: Ethereum Software Upgrade To Stabilize Crypto Fees; Luxury brand Burberry releases NFT collection

The largest whale transfer from Ethereum was estimated at around $ 91 million. According to the crypto tracker Whale Alert, 28,272 Ethereum were moved from one unidentified wallet to another.

A new software update for Ethereum, the second largest blockchain network, is likely to stabilize transaction fees and reduce the supply of tokens.

Continue reading: Literally pledging the future with Bitcoin

Just a few minutes later, according to The Daily Hodl, another transfer from the same unknown sender moved another 28,272 Ethereum to a third unknown wallet. The pattern repeated with 27,425 Ethereum worth $ 88.1 million sent to another unknown wallet.

The Kraken cryptocurrency exchange on Wednesday made seven separate trades totaling 22,400 Ethereum worth $ 71 million. The transfers went to an unknown wallet and every move was the same – 3,200 Ethereum, each worth more than $ 10.2 million, the report said.

Gemini, another crypto exchange, has moved 10,000 Ethereum worth over $ 32 million to an undisclosed wallet on Binance and Bithumb. Each transaction included 12,000 Ethereum worth nearly $ 38.6 million.

Related: Crypto platform Matrixport becomes unicorn with a valuation of $ 1 billion

Ethereum hit a high of $ 3,346.21 on Monday (August 23) and was trading at $ 3,148.80 on Thursday morning (August 26), according to CoinGecko. According to the news agency, the market capitalization of Ethereum has “increased by 3.6 percent during the week and by 41.1 percent in a month-on-month comparison”.



Above: Eighty percent of consumers are interested in non-traditional checkout options like self-service, but only 35 percent have been able to use them for their recent purchases. Today’s Self-Service Shopping Journey, a collaboration between PYMNTS and Toshiba, analyzed over 2,500 responses to learn how merchants can address availability and perception issues to meet demand for self-service kiosks.

Comments are closed.