Ethereum whales have been making huge transactions lately, as major entities are rushing to cash in on this fast-growing crypto presently trading at $387.
Data from advanced crypto tracker, Whale Alert, revealed an unknown ETH whale moving 200,000 ETH worth $77.781 million, transferred from an unknown wallet to another unknown wallet just a few hours ago.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 200,000 #ETH (77,781,866 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) September 4, 2020
As at the time this report was drafted, Ethereum traded at $387.65 with a daily trading volume of $18.9 billion, ETH price has been down -13.3% in the last 24 hours. It has a circulating supply of 110 million coins and a max supply of ∞ coins.
What is an Ethereum Whale? 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.
What you need to know: 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.
While Ethereum refers to the blockchain network, the native currency that flows within the Ethereum economy is called Ether (ETH).
On Ethereum, all transactions and smart contract executions require a small fee to be paid 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.