$ 112 million worth of Ethereum moves from one mysterious crypto whale account to another

Most new crypto investors are afraid of whale accounts because they can suddenly impact the market and destroy everyone’s plans. Therefore, most of these whale accounts are held by anonymous individuals or groups, and they are closely monitored. Recently, an anonymous whale account has moved $ 112 million worth of Ethereum to another anonymous crypto wallet. The deal took place last night around 10:30 IST. Ethereum has lost some value in the last few hours. But it would be premature to say that the deal played a role in this decline.

Compared to the values ​​for the last 24 hours Ethereum prices in India It decreased by 1.20%. It was trading for $ 3,822 on Tuesday morning.

EtherscanThe analytics platform has identified the crypto wallet that sent Ethereum as 0xa59e84f0b7afd006a6ab61974f4c4df7f7d259f1. The value of the coin sent was $ 111,966,629 (approximately 838 rupees), and the wallet address of the mysterious account to which the coin was sent was 0xe31d2d6c037762ebb9437513fbdae2df8390ed4e.

There are many whale accounts operating in the cryptocurrency market. Some of them identify themselves, some do not. Large companies typically invest in cryptocurrencies and keep them in reserve. However, some early investors may have invested in cryptocurrencies, and their investments are now diversified. Market watchers pay attention to whale accounts and understand how the movement of one or more whale accounts affects the market. For example, if a whale decides to leave this Ethereum position, it creates enough pressure on Ethereum to lose its value. Lowering the price of Ethereum by 2% will put sales pressure of about $ 15 million to $ 30 million.

This movement by the Ethereum whale is the second largest cryptocurrency by market capitalization Cryptographic market..Although it was behind the market leader Bitcoin, Ethereum is still considered to be the only coin that could pose a serious challenge. Bitcoin..

Are you interested in cryptocurrencies? Discuss everything about crypto with Nischal Shetty, CEO of WazirX, and Alok Jain, founder of Weekend Investing. Orbit, Gadget 360 Podcast.Orbits are available at Apple podcast, Google podcast, Spotify, Amazon music Wherever you can get a podcast.

Cryptocurrencies are unregulated digital currencies, not fiat currencies and are subject to market risk. The information provided in this article is not intended or constitutes any financial advice, transactional advice, or other advice or recommendations provided or endorsed by NDTV. NDTV shall not be liable for any loss resulting from an investment based on the recognized recommendations, forecasts or other information contained in the article. $ 112 million worth of Ethereum moves from one mysterious crypto whale account to another

Back to top button