Tuesday, May 11, 2021

Ethereum Whale Takes Advantage of the Price Increase, Transfers 30,000 ETH ($6,675,945) to OKEx

According to Whale Alert, the leading tracker of large crypto transactions from and to exchanges, an Ethereum whale has just moved 30,000 ETH worth $6,675,945 from an unknown wallet to OKEx exchange.

At the moment, virtually all digital currencies in the market are experiencing price appreciation, and crypto whales are not relenting from their usual activity of leveraging the market situation for their personal gains.

Obviously, the transfer of crypto-asset from an unknown wallet to exchanges implies sell-off for profits. Recall that the ETH is experiencing parabolic price appreciation, and it keeps consolidating on a daily basis.

At press time, Ethereum (ETH) trades above $220. No sign of price retracement yet, which could have resulted in the calculated efforts of crypto whales to take their profits before the next price pullback.

Ethereum (ETH) Whale Moved 30,000 ETH ($6,675,945) to OKEx

Whale Alert reported the movement of 30,000 ETH worth $6,675,945 at press time, from an unknown wallet to the cryptocurrency exchange OKEx, via its official Twitter handle.

According to Whale Alert, the huge transfer was effected on 30th April 2020, at 06:55:04 UTC, from an unknown wallet 0x654aae6cc26a28d1b8f6f735595688743f6c68fd to OKEx exchange wallet 0xa7efae728d2936e78bda97dc267687568dd593f3.

“30,000 ETH (6,675,945 USD) transferred from unknown wallet to OKEx,” Whale Alert reported.

The Situation of Ethereum (ETH) in the Market

At the moment, there is no big impact noticed on the price of Ethereum (ETH) in the market. The digital currency is leveraging the favorable market situation, led by Bitcoin (BTC), the largest cryptocurrency by market capitalization.

Actually, a huge transfer from an unknown wallet to crypto exchange is not expected to be favorable to the digital token involved, but the market is generally firing on all cylinders, so such lapses could easily go unnoticed.

However, crypto whales remain significant in controlling the trend of prices in the market. At the time of filing this report, ETH is trading at $220.85, with a 7.86% uptrend in the last 24 hours.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles