According to a report from on-chain analytics platform Lookonchain, an unidentified Ethereum whale with 720,000 ETH, or $817 million, has “woken up” after being inactive for two years.
The movement of this entire amount of coins, which according to Vitalik Buterin, the founder of Ethereum, exceeds even his position, signaled the investor awakening.
The movement of ETH tokens this time around did not, however, pose a threat to the value of the cryptocurrency because it remained fully within the whale’s own wallets. The tampering caused the amount of wallets holding 720,000 ETH to drop from nine to eight. It seems someone has been “crossed off the inheritance list,” as the joke goes.
The pressure on the price of Ethereum (ETH) is too much
Another significant cryptocurrency holder who is aggressively manipulating prices is still exerting pressure on the price of Ethereum. The hacker in question is FTX, who is purportedly a member of staff at the notorious exchange. He traded 15,000 more ETH for renBTC today. The cryptocurrency fraudster still has 185,000 ETH available on its balance sheet.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu