Ethereum whales are going for a rebound as price pick up from its recent lows.
Statistics seen from Whale Alert, an advanced crypto tracker showed large investors moved over 700,00 Ether coins in five different transactions from unknown wallets to unknown wallets.
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Highlights of some transactions seen by Nairametrics include;
🚨 🚨 🚨 🚨 🚨 148,275 #ETH (52,646,171 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) September 30, 2020
🚨 🚨 🚨 🚨 135,855 #ETH (48,319,376 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) September 30, 2020
🚨 🚨 🚨 🚨 136,912 #ETH (48,695,421 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) September 30, 2020
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What you should know; Nairametrics had in recent times, observed the high movement by these Ethereum whales as these large entities have purchased almost half of all the Ethereum mined so far in 2020
At the time this report was drafted Ethereum traded at $357.11 with a daily trading volume of about $10 Billion. ETH price is up 0.1% in the last 24 hours. It has a circulating supply of 110 Million coins and a max supply of ∞ coins.
READ: Warning signs: Ethereum daily active wallets hit a 67-day low
Whales are basically large entities that own a significant amount of Ethers This means that an Ethereum whale would be a single Ethereum address owning around 1,000 Ethereum or more.
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.
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Quick fact; Ethereum 2.0 is an upgrade that aims to solve the blockchain trilemma – security, scalability, and decentralization.
- In alternative smart contract platforms, they are designed to be highly scalable but compromises on decentralization.
- Whereas a highly secured and decentralized blockchain network would have the trade-off being highly unscalable.
- Ethereum 2.0 brings a very different flavor of design that aims to address those issues by way of using Proof-of-Stake (POS), Beacon Chain, Sharding, and Execution Environment. Due to the complexity of the project, the development will take place in 3 phases