Home Cryptocurrency Ethereum Whale Abruptly Moves Over $124,000,000 in ETH – Here’s Where the Crypto’s Going

Ethereum Whale Abruptly Moves Over $124,000,000 in ETH – Here’s Where the Crypto’s Going

by Lottar

An investor with deep pockets suddenly moves tens of thousands of Ethereum (ETH) tokens amid the uncertainty surrounding the crypto markets.

Blockchain tracker Whale Alert initially spotted the transaction involving a large Ethereum container that moved 97,273 ETH worth $124.69 million at the time of the transfer.

According to Whale Alert, the large crypto trove was moved from one 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 stash for security purposes.

Other notable whaling deals recently on Whale Alert’s radar include:

75,999 ETH worth $101.2 million transferred from an 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 amassed billions of dollars from the second largest crypto asset by market capitalization in just over a month, according to to the market analysis firm Santiment.

“Since September 11th, Ethereum billionaire whale addresses with one million or more ETH have collectively added 3.5 million more coins. This has increased their cumulative pockets by 14%. There are currently 132 such addresses in existence.”

Source: Sentiment/Twitter

Meanwhile, Santiment find that wallets with 100,000 to one million ETH download the digital asset.

“Ethereum’s shark and whale addresses (with 100,000 to 1 million ETH) have dropped by 3.3 million ETH in the last five weeks alone. This is equivalent to about $4.2 billion in dumped coins. The asset’s price against Bitcoin has ebbed and flowed based on [the] behavior of these key stakeholders.”

Source: Sentiment/Twitter

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any 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

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