What happened: $50,056,201 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: 0xe60ad9ca6616dc5a5ea5110649207987032dc4b8
$50 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0xb0cf943cf94e7b6a2657d15af41c5e06c2bfea3d
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 120,348 Ethereum wallets with over $100,000 in ETH.
See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers
Price Action: Ethereum is down -5% 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.
