Crypto Whales Relocate Over $500,000,000 in Ethereum in Matter of Hours – Here’s Where the ETH Is Heading

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Crypto Whales Relocate Over $500,000,000 in Ethereum in Matter of Hours – Here’s Where the ETH Is Heading

A massive amount of Ethereum (ETH) worth half a billion dollars is on the move, as crypto whales relocate their ETH troves.

This Friday, blockchain tracker Whale Alert spotted a series of transactions in which large Ethereum holders moved 237,419 ETH, worth $557,777,068, in just over 10 hours.

In the largest transaction of the series, a whale sent its entire 55,277 ETH stash worth $129.94 million from one unknown wallet address to another. The sending wallet had previously received a little over 50,000 ETH in its first transaction – 26 days ago – from a sender who also emptied its wallet.

The trail of transactions, which goes as far back as nearly a year, indicates that the controlling entity appears to be emptying wallets and relocating the ETH trove to new addresses.

On top of the largest ETH movement of the day, five whales moved huge amounts of Ethereum between wallets of unknown origins. Two deep-pocketed investors shifted ETH from an unknown wallet to a crypto exchange, and one big-time crypto holder transferred ETH from an exchange to an unknown wallet.

Here’s the summary of the largest ETH transactions in the past day:

Featured Image: Shutterstock/IM_VISUALS


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