What happened: $57,589,378 worth of Ethereum (CRYPTO: ETH) was just moved between 2 anonymous cryptocurrency wallets in a single transaction.
This mysterious person’s Ethereum wallet address has been identified as: 0xef4f2084e6ebddc3897b20d8f575db907a62ddb2
$57 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x1ff86047d1e254938ec3129e8c891ed0b869cfdc
Why it matters: Cryptocurrency whales that own millions of dollars in Ethereum tend to move markets single-handedly. If the whale decides to exit this Ethereum position, there could be enough market impact to push down the price of ETH. It takes about $15 to $30 million of sell pressure to move the price of Ethereum down 2% on any given exchange.
You can view more details about the transaction here
According to Glassnode, there are 101,988 Ethereum wallets with over $100,000 in ETH.
See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers
Price Action: Ethereum is down -6% in the past 24 hours.
See Also: How To Buy Ethereum
Public Blockchain data sourced from Whale Alerts Twitter.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
