Whales Move More Than $1,340,000,000 in Ethereum As Markets Improve – Here’s Where the Crypto Is Going
As the crypto markets start to heat up after a season of cooldown, Ethereum (ETH) and Bitcoin (BTC) whales are staying active, moving nearly $2 billion in crypto assets over the past 24 hours.
In a series of six transactions, crypto whales relocated 411,799 ETH worth more than $1.34 billion to various wallets within five hours.
Data from the crypto tracker Whale Alert shows the breakdown of the six Ethereum transfers:
In addition to the massive moving sums of ETH, one Bitcoin whale transferred a heap of 10,000 BTC, worth over $475 million, to a wallet of unknown origin.
— Whale Alert (@whale_alert) August 20, 2021
Ethereum is in the midst of a month-long rally from the July low of $1,744 to above $3,000. At time of writing, Ethereum is trading at $3,276, according to CoinGecko.
Bitcoin is testing resistance at the $50,000 level, trading at $48,861, at time of writing.
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