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
— 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 2020Â
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.
Download the Nairametrics News App
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.
