Ethereum whales are obviously cashing out, and transferring their prized digital asset, which is the world’s second most valuable crypto by market value.
Data retrieved from advanced crypto tracker, Whale Alert, revealed that an unknown identity transferred 248,660 ETH (116,890,884 USD – approximately $117 million) from one unknown wallet to another unknown wallet.
Ethereum supports smart contracts on which developers can write code in order to program digital value. Examples of decentralized apps (dapps) that are built on Ethereum include tokens, non-fungible tokens, decentralized finance apps, lending protocol, decentralized exchanges, and much more.
What you should know
Traders or entities who own a large number of Ethereum are typically called Whales.
This means that an Ethereum whale would be a single Ethereum address owning around 1,000 Ethereum or more.