In the cryptocurrency ecosystem, whales hold a very important role in determining the price of any digital asset in the crypto market.
On more than one occasion, huge transactions effected by whales, especially the so-called Bitcoin whales, have greatly affected Bitcoin (BTC), the first and largest cryptocurrency, by changing its trend positively or negatively.
So, anytime a huge transaction of Bitcoin, EOS, or any other digital currency is hinted, virtually all crypto enthusiasts observe to see its impact on the price of the particular cryptocurrency in the market.
Crypto Whale Moved 917,060 EOS worth $2,511,073
This was reported via the official website of Whale Alert and shared on its Twitter feed a couple of minutes ago.
Going by the report, the huge EOS transfer was effected on 18th April 2020, at 23:45:19 UTC, from dzqywwzsntt1 to huobidevice3.
Whale Alert shared this, “917,060 EOS (2,511,073 USD) transferred from unknown wallet to unknown wallet.”
917,060 #EOS (2,511,073 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 18, 2020
The Huge Transfer May Not Impact the Price of EOS
As expected, the huge EOS transfer shouldn’t significantly affect the price trend of the cryptocurrency, due to the nature of the transaction. The transaction was from an unknown wallet to another unknown wallet. It could have been another story if it was from an unknown wallet to crypto exchanges.
At the moment, virtually all the digital currencies in the market, including EOS, are experiencing an increase in value, and this is absolutely good for both crypto traders and investors.
EOS presently occupies 9th position ahead of Tezos (XTZ) that occupies 10th position. At the time of filing this report, EOS is trading at $2.69, with about a 2% price increase based on 24 hours estimation.