Whale Moves Over $1,057,000,000 in Ethereum – Here’s Where the Crypto Is Headed

Large cryptocurrency transactions tracker Crypto Whale is revealing that an unknown digital wallet just transferred over a billion dollars in Ethereum (ETH).

A whale moved 229,766 ETH on November 3rd, when the second-largest token by market cap was trading above $4,604. The transfer was made for a fee of just 0.010 ETH, or $46.

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According to block explorer Etherscan, the funds were sent to an unknown wallet which also received 0.020 ETH (about $92) from a Coinbase wallet a few minutes after the massive transaction.

The destination wallet now holds 229,766.49 ETH currently worth $1.03 billion, making it the 34th-richest Ethereum wallet in the world.

Crypto Whale detected several other large Ethereum transactions this week, including the transfers of 20,000 ETH, worth $90.54 million, from crypto trading platform Kraken, and 21,487 ETH, worth $99.41 million, from digital assets exchange Binance.

The massive transactions were made as Ethereum hit a new all-time high. ETH breached a record price above $4,600 on Wednesday, and at time of writing the token is trading at $4,481, data from CoinMarketCap shows.

Crypto analyst Michaël van de Poppe forecasted last month that Ethereum could surge to as high as $5,000, but warned that the coin could first see a price correction before rising.

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Featured Image: Shutterstock/KHIUS/monkographic


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