The bull trend currently in play amidst the record sell-offs seen yesterday has kept Ethereum whales very busy. This confirms the bias that the bearish days look numbered and never again will Ether trade below $200 support, taking to account recent price actions coming to play.
What we know: Data retrieved from Whale Alert, an advanced crypto tracker revealed an unknown crypto entity moved 154,245 ETH ($78,168,076 ) from an unknown wallet to an unknown wallet.
? ? ? ? ? ? ? 154,245 #ETH (78,168,076 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) November 26, 2020
What this means: Such movements have been tracked by Nairametrics on the bias revealing large entities have purchased almost half of all the Ethereum mined so far in 2020, pushing the value to rise over 150% from March 2020.
- This is clear evidence that major investors are now looking at the future potential of Ethereum as an investment, despite the recent sell-offs recorded in the second most capitalized crypto market.
- 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.
At the time of writing, the second most valuable crypto by market value traded at $526.21 with a daily trading volume of $23,939,794,283 USD. Ethereum is down 1.44% in the last 24 hours. The market capitalization of Ethereum stood at $59.77 Billion.
What you should know
- Crypto holders 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.
Explore Data on the Nairametrics Research Website