Ethereum (ETH), which is the second-largest crypto currency in the world, dropped more than 8% over the past 24 hours. The Ethereum price drop has prompted crypto whales to increase their holdings of ETH. ETH prices drop; Crypto whales increase According to Whale Alert data, crypto whales have moved approximately 400K Ethereum from
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Ethereum, the second-largest crypto currency in the world, dropped more than 8% over the past 24 hours. The crypto whales have been motivated by the Ethereum price drop to add more ETH.
According to Whale Alert data, around 400K Ethereum has been moved by crypto whales from cryptocurrency exchanges. During the price dump, more than $445 million worth Ethereum was moved to unknown wallets.
The data shows that whales transferred around 300k Ethereum from Upbit, a cryptocurrency exchange, to different wallets. The tracker only recorded the largest transaction, which was the addition of $129.1 million of ETH to the same exchange.
However, a whale acquired 99.99K Ethereum from Bitifinex cryptocurrency exchange. The transaction was worth approximately $112.4 million.
This whale accumulation occurred amid the huge Ethereum Price drop. The ETH price has fallen by 12% over the past 7 days. At press time, ETH trades at an average price $1,128, Its 24 hour trading volume has increased by 103% to $11.9 billion. ETH’s market capitalization is approximately $137 billion.
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