Over $1.4 billion in Ethereum (ETH) cryptocurrencies transferred by whales in mind-blowing chunks.
Whale Alert spotted nearly a dozen large Ethereum transactions carrying a staggering $1,424.9 billion in ETH in total. Meanwhile, at the time of writing, the second most popular cryptocurrency was trading at $4140, according to data provided by CoinGecko.
Transfer in Large Amounts
The total amount of Ethereum transferred consists of 460,792 ETH and the amount is currently worth 1,850,462,337.36 dollars.
While some of these transfers were handled by whales, some of this ETH was carried by crypto exchanges. Binance transferred 44,500 Ether. Each of these transfers moved 14,000, 20,000 and 30,000 ETH.
With the largest transfer, 146,169 ETH moved from one anonymous wallet to another. This is equivalent to $579,638,839 in fiat currency. Top ETH whales have been buying ETH since August.
As we reported earlier, Santiment analytics vendor announced that top Ethereum addresses have been accumulating ETH since late summer. Now, these ETH whales have added 13.9% of the circulating ETH supply to their bags.
On the other hand, the ratio of over-the-counter ETH whales to swap whales has now increased to 5:1. The top non-exchange wallets now hold 22.91 million Ethereum, compared to the 4.6 million ETH owned by whales and held in central exchange wallets.
Ethereum On The Way To $5000
Mike McGlone, chief commodity strategist at Bloomberg, recently shared on Twitter his views on why Ethereum, the second-largest cryptocurrency, could reach $5,000.
The expert tweeted that Ethereum has become an important tool for the digitization of finance and money. Therefore, this is a solid foundation that is likely to push Ethereum higher.