Ethereum Whales Make Waves: Massive ETH Transfers Spark Crypto Enthusiasm
An unidentified Ethereum investor has recently made significant transactions involving large amounts of ETH.
The blockchain-tracking service Whale Alert initially detected these transfers.
According to Whale Alert, the investor moved 80,000 ETH valued at $154.58 million from an undisclosed wallet to the crypto exchange Binance.US. Notably, the transaction fees for this multimillion-dollar transfer were less than $4.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 80,000 #ETH (154,585,877 USD) transferred from unknown wallet to #BinanceUShttps://t.co/LKmthzKGnB
— Whale Alert (@whale_alert) May 6, 2023
Whale Alert also observed several other notable Ethereum transactions over the weekend. For instance, one individual moved 19,093 ETH worth $36.81 million from an unknown wallet to the US-based crypto exchange Coinbase, paying a fee of $4.20 for the transaction.
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Additionally, Whale Alert tracked the movement of 15,000 ETH valued at over $30 million from a wallet controlled by the Ethereum Foundation to the crypto exchange Kraken. The Ethereum developer paid a fee of more than $11 for this transfer.
In another instance, a wealthy investor relocated 12,800 ETH worth $25 million from an undisclosed wallet to Coinbase, with the transaction incurring a fee of less than $11.
Since these ETH transfers were made to crypto exchanges, there is a possibility that the tokens may be sold on the open market.
As of the time of writing, the price of Ethereum stands at $1,861, reflecting a decrease of more than 1.27% in the last 24 hours.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
