• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Two Ethereum Whales move 53,455 ETH, as DeFi tokens gain popularity

Olumide AdesinabyOlumide Adesina
3 years ago
in Cryptos
Two Ethereum Whales move 53,455 ETH, as DeFi tokens gain popularity
Share on FacebookShare on TwitterShare on Linkedin

It seems large entities or better still whales are showing renewed interest lately by moving the second most valuable crypto asset more frequently as DeFi tokens gain traction.

Data from an advanced crypto tracker, Whales Alert, showed two unknown ETH whales separately moved 53,455 Ethereum coins worth about $20.921 million transferred from Kraken (a crypto exchange) to an unknown wallet and vice versa, several hours ago.

? 28,528 #ETH (11,138,378 USD) transferred from unknown wallet to #Kraken

Tx: https://t.co/tin57Yu3gJ

— Whale Alert (@whale_alert) August 22, 2020

 

24,927 #ETH (9,782,543 USD) transferred from #Kraken to unknown wallet

Tx: https://t.co/EYSuVDQ8fv

— Whale Alert (@whale_alert) August 22, 2020

 

Why this move?

Nairametrics believes that the recent whale movements are triggered by the DeFi token phenomenon which uses the ERC-20 protocol for facilitating transactions. Ethereum 2.0, the long-term protocol upgrade of Ether’s parent network, is set to launch its final testnet this month.

READ: Bitcoin could potentially become superior to cash

Defi, in short, is the use of blockchain technologies (including smart contracts, decentralized asset custody, etc.) to replace all “intermediaries” with program codes, therefore maximizing the efficiency of financial services and minimizing costs.

These digital assets are designed on Ethereum codes, and usually exhibit characteristics that include having protocols and financial smart contracts.

READ: Unknown ETH Whale moves $35 million dollars worth of Ethereum

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.

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.

Download the Nairametrics News App

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.

Tags: CryptocurrencyCryptocurrency NewsDeFi tokenETH whalesEthereumWhales Alert

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

hfm
UBA
Mega Millions
Mega Millions
fidelity banner
HFM







NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Accountability: BudgIT urges the budget office to publish the Q3’2022 implementation report
  • Fuel price hike: Driver-rider negotiation is the way out for ride-hailing – InDrive
  • LASTMA reacts to reports of ban by Governor Sanwo-Olu from arresting traffic offenders

Follow us on social media:

Recent News

Accountability: BudgIT urges the budget office to publish the Q3’2022 implementation report

Accountability: BudgIT urges the budget office to publish the Q3’2022 implementation report

June 9, 2023
Fuel price hike: Driver-rider negotiation is the way out for ride-hailing—InDrive

Fuel price hike: Driver-rider negotiation is the way out for ride-hailing – InDrive

June 9, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In