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Home Markets Cryptos

Large entity transfers $78 million worth of Ethereum

Olumide Adesina by Olumide Adesina
November 27, 2020
in Cryptos
Unknown identity moves $117 million worth of Ethereum
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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.

READ: Crypto traders transfer USDT 100,000,000

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? ? ? ? ? ? ? 154,245 #ETH (78,168,076 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/JaT7f7L13z

— Whale Alert (@whale_alert) November 26, 2020

READ: Pigs on a rampage, Bitcoin drops $2,000

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.

READ: Ethereum whale transfers 200,000 ETH, as price drops to $387

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.

READ: Reps Committee warns MDAs against failure to render accounts to Auditor-General

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

Related

Tags: cryptoEthereum

Comments 2

  1. Anonymous says:
    November 27, 2020 at 11:02 am

    Will ethereum go high again

    Reply
  2. IBRAHIM RABIU says:
    November 28, 2020 at 7:57 pm

    Yeah man you are doing just great with relevant information also please can you keep us up-to-date on pinkion in Nigeria

    Reply

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