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Home Markets Cryptos

Unknown ETH Whale moves $35 million dollars worth of Ethereum

Olumide AdesinabyOlumide Adesina
2 years ago
in Cryptos
Unknown ETH Whale moves $35 million dollars worth of Ethereum
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It seems Ethereum whales are having a good time gathering more ETH, because the second most valuable crypto asset continues to stay above $420.

Data from an advanced crypto tracker, Whales Alert, showed that an ETH whale moved 81,000 ETH (34,902,307 USD) transferred from an unknown to an unknown wallet.

READ MORE: Tether whales move over 300,000,000 USDT in a single day

? ? ? 81,000 #ETH (34,902,307 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/sC9jGyMHTT

— Whale Alert (@whale_alert) August 16, 2020

What are Ethereum whales?

In the Ethereum world, traders or investors who own a large number of Ethereum are typically called whales. This means an Ethereum whale would be a single Ethereum address owning around 1,000 Ethereum or more.

READ MORE: ECOWAS: Single currency regime not kicking off in 2020 

Meanwhile, Ethereum’s daily transaction count neared an all-time high this week. Its ATH of 1.34 million was set on Jan 4, 2018, when Ethereum had an average market price of $1,042. Earlier this week, its transaction count was within shouting distance at 1.27 million.

Priced at $431 as at the time of this writing, the increased activity is a good long-term sign of things to come for Ethereum holders.

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Things you need to know about Ethereum

Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

Ethereum is a decentralized system, fully independent, and is not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means it’s almost impossible for Ethereum to go offline.

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Tags: crypto assetCryptocurrencydecentralized systemEthereumEthereum addressEthereum whalessmart contractsWhales Alert

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