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Unknown Ethereum Whale transfers a whopping 89,874 ETH

An unknown ETH whale just moved 89,874 ETH worth$ 42.4 million.

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Ethereum,Ethereum Whales Cumulative Holdings Touch 10 Months High, ETH Passes $220, Ethereum wallets holding at least 0.1 ETH just crossed the 3 million mark for the first time

Ethereum whales have been on the rise lately, as major entities are rushing to cash in on this valuable crypto more frequently.

Data from advanced crypto tracker, Whale Alert, showed that an unknown ETH whale just moved 89,874 ETH worth $42.4 million, transferred from an unknown wallet to another unknown wallet just a few hours ago.

READ: Ethereum miners on steroids, earn $500,000 in just one hour

READ: Crypto: Celo gains over 50% within a day, as Coinbase announces its listing

Specta

At the time this report was drafted ETH was trading at $471.57 with a daily trading volume of $19.63, billion. ETH price has been up 8.0% in the last 24 hours. It has a circulating supply of 110 million coins and a max supply of ∞ coins.

What you must know: 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: Bitcoin whale transfers 92,857 BTC worth $1.1 billion

Things you need to know about Ethereum

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

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While Ethereum refers to the blockchain network, the native currency that flows within the Ethereum economy is called Ether (ETH).

READ: BAND, fastest growing crypto gains 5,620% in 7 months

On Ethereum, all transactions and smart contract executions require a small fee to be paid. This fee is called Gas. In technical terms, Gas refers to the unit of measure on the amount of computational effort required to execute an operation or a smart contract.

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

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Cryptocurrency

Breaking: Ethereum within striking distance of $1,400

The leading altcoin was trading at $1,377 thus within striking distance of $1,400.

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Ethereum, cryptocurrency, Crypto: Large investors transfer over 700,000 Ethers

The world’s utility crypto is fired up on all cylinders on the basis it just ascended to a new yearly high after breaking its previous high seen in early January.

The leading altcoin was trading at $1,377 thus within striking distance of $1,400.

At the time of drafting this report, Ethereum traded at $1,377.06 with a daily trading volume of $35.3 billion. Ethereum is up 13.13% for the day.

What you should know: 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 2.0 is an upgrade to the Ethereum network that helps in improving the network’s scalability.
    Through the implementation of several, efficiency, enhancements, scalability, and speed the Ethereum network becomes better without compromising its decentralization and security.

What this means: Key reasons attributed to the remarkable rise of Ethereum include the rise of many #DeFi projects running on the #Ethereum network as seen in 2020, #Ethereum flipped Bitcoin in terms of network fees.

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  • Users spent almost $600M in fees on the Ethereum network last year – 83% more than on Bitcoin.

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Cryptocurrency

2,450 investors own 1000 BTC, not willing to sell their Bitcoin

Much of the recent increase can be attributed to wealthy entities withdrawing their BTC from the exchange

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Crypto millionaire carts away with $224 million worth of Bitcoin, Whales transfer Bitcoins at an alarming rate, BTC whale moves 10,250 BTC valued at $95,000,000

The number of investors owning at least 1,000 BTC is growing at a record pace. Data retrieved from Glassnode show that the number of addresses holding at least 1000 BTC has skyrocketed lately.

  • The growth from January to December last year: 6.7%
  • The growth from December until today: 7.2%

On the chart pattern, the number of addresses owning such amount of cryptos was about 2,450.

What this means

Large crypto entities could be envisaging a strong medium to long-term Bitcoin price trend, and are choosing to hold on to BTC in expectation of a bull market.

  • Much of the recent increase can be attributed to wealthy entities withdrawing their BTC from the exchange. Apparently, this is not new wealth – rather, it represents a change in the way Bitcoin whales are choosing to hold their coins.
  • At the time of drafting this report, Bitcoin traded at $36,534.77 with a daily trading volume of $53.2 Billion. Bitcoin is up 4.20% for the day.

In addition, another key point helping Bitcoin prices to remain supported between the $34,000-$37,000 price levels in recent days, is that a significant amount of long-term investors in Bitcoin are not nervous amid the prevailing volatility in play as revealed by Glassnode.

Specta

Bitcoin reserve risk is still very low. This means that there is high confidence in long-term HODLers relative to the current price. In red, the price is high and the confidence is low. Yes, a $37k Bitcoin is…cheap.

Bottom Line

Nairametrics is of the opinion that the increased buying pressures by such crypto investors are significantly responsible for Bitcoin staying supported above $35,000.

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Cryptocurrency

List of cryptos likely to overtake XRP

Michaël van de Poppe as recently listed some Crypto assets that might likely overtake XRP as Polkadot did

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cryptocurrency

A highly revered crypto strategist, Michaël van de Poppe, has listed some crypto assets that might likely overtake XRP as Polkadot did.

What you should know

Recently, via his Twitter handle, Michaël revealed the cryptos expected to surpass XRP.

“Polkadot takes over spot 4 over XRP by market capitalization. Just a matter of time before Cardano, Chainlink, and Litecoin surpass XRP too.”

READ: LINK, most profitable crypto-asset in 6 months, gains 451%

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READ: Cryptos having better technology than Bitcoin

Michaël van de Poppe gave key insights on Chainlink’s recent price action, and its will to ascent to a new all-time high.

  • “Lower timeframe levels, level around $18 is interesting for an entry and then you can see we’ve got one [at $16] and one [at $14], which is confluent with the daily timeframe.”
  • Chainlink is a blockchain that is designed to bridge the space between blockchain technology-based smart contracts (created by ETH), and other user programs.
  • Since blockchains by principle can’t have access to data outside their paths or networks, a Defi instrument is needed to facilitate data feeds in smart contracts, and Chainlink helps to solve such needs.

READ: XRP in deep crisis, drops 21%

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The crypto expert further disclosed that it was only a matter of time before smart a contract platform like Cardano (ADA), decentralized oracle network Chainlink (LINK), and global payment network, Litecoin (LTC), outmatched XRP from the fifth spot of the largest coins by market value.

  • Cardano is a type of blockchain that permits people to receive and send funds.
  • ADA coin is the name of the cryptocurrency.
  • It uses the Cardano blockchain and also allows people to design smart contracts just like Ethereum.
  • Litecoin is a P2P crypto that allows instant, near-zero cost fees to anyone around the globe. It is open-source in principle, as its global payment network is fully decentralized without any central authority.

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