Anonymous #Eth Wallet Transfers $68,847,701 to Unknown wallet.
With Ethereum’s price holding up at about $463, a crypto whale just moved $68,847,701 to an unknown wallet.
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According to @whale_alert via a tweet affirming this on November 11 the Ethereum wallet transferred #150,000 Eth roughly estimating $69 million.
Amazingly, this is just one of the many huge token alerts for this week from an unknown wallet to another unknown wallet.
Whales are considered to be the top holders of cryptocurrency. This is because the amount of crypto they hold represents significant portions of circulating coins, when they make transfers, it can send tidal waves over the crypto markets causing prices to swing with extreme volatility.
The abnormal ETH movement is correlated with much higher price volatility, with ETH prices going down in the first 24 hours and going back up the following 24 hours.
Read Also: What is a Befitting Punishment for Fraudsters in the Cryptocurrency Industry?
As it is, $100,000 in tokens are much more likely to cause a dent in prices than $100,000 in ETH going to exchanges.
At the time of this publication, Ethereum price is $460.95 USD with a 24-hour trading volume of $14,136,929,189 USD.
Ethereum is up 2.84% in the last 24 hours with a market cap of $52,260,817,156 USD, ranking #2.
Having a circulating supply of 113,379,349 ETH coins, with the max. supply not available. Ethereum’s top exchanges for trading are currently Binance, Huobi Global, ZG.com, BiKi, and IDCM.