2023-10-25 13:02:25
A particularly large Ethereum whale recently sent 30,710 ether, i.e. coins worth more than 50 million dollars, to the Binance crypto exchange. This is probably to sell them in the current uptrend in the market. It was the same whale that withdrew 42,311 ether from the same platform in a series of transactions that began on September 20th. The movement of the Ethereum whale may not mean anything. Compared to the ether exchange rate ( ETH PRICE ) of around 1,780 dollars at the time of writing the article, the exchange rate at the time of payments was 1,660 dollars on average. So it looks like the whale wants to reap the profits. The only reason this is worth paying attention to is the fact that whale movements usually affect the price of ether. Many analysts and traders used to interpret these transactions as signals. It is not currently known whether the current large movement of our whale is for profit or for other purposes. It is interesting that wallets holding at least 1 million ether hold 32.3% of all ether, which is quite a significant market share. In fact, this ratio has not been this high since 2016. And we can remember that in 2016, the price of the number two cryptocurrency rose from $1 to $18, although it closed the year at around $7.5. So there are more interesting movements regarding ether, recently, for example, the Ethereum Foundation sold 1,700 ether in a single transaction on Uniswap. It was the largest single transaction of the year so far. And while Ethereum futures exchange-traded funds launched in the US this year, they haven’t generated nearly as much interest as the very first BTC futures ETF launched in October 2021. Overall, it can be said that the price of ether is currently being driven forward by bitcoin, and interest in ether has not increased due to its own developments.
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#Ethereum #whale #submitted #ether #Binance