Wednesday, March 3, 2021

Ethereum Whales Moved $451 M in ETH from Top Exchanges, As ETH Balance on Exchanges Drops

According to the data provided by Whale Alert, the tracker of large transactions of cryptocurrencies from and to exchanges, over the past 24 hours, huge amounts of Ethereum (ETH) have been moved from top exchanges, including Bitfinex, Binance, and a number of smaller exchanges.

At the same time, a recent analytics report has indicated that ETH balance on crypto exchanges has considerably dropped over the past couple of months.

Read Also: Ethereum’s Vitalik Buterin Proposes Social Wallet to Mitigate Crypto Theft

Ethereum Whales Moved $451 Million worth of ETH

As shared by Whale Alert, about twelve transactions were noticed, moving a total of 367,382 ETH worth around $451 million at the time of publishing.

The transfers mostly shifted large ETH lumps from top crypto exchanges, such as Bitfinex, Binance, coupled with smaller platforms.

A number of transactions also moved Ethereum (ETH) from one unknown address to another.

Ethereum Whales Moved $451 M in ETH from Top Exchanges, As ETH Balance on Exchanges Drops

Ethereum (ETH) Balance on Crypto Exchanges Drops

According to the blockchain analytics firm, Glassnode, crypto users have been actively buying and withdrawing ETH from various crypto exchanges.

Going by the tweet, ETH balance on crypto trading platforms has fallen to a 15-month low, which represents 15,423,305.652 ETH.

Read Also: Fundstrat Global Strategist Says Ethereum (ETH) Has Potential to Hit $10,500

Glassnode tweeted, “Ethereum ETH Balance on Exchanges just reached a 15-month low of 15,423,305.652 ETH.”

Ethereum (ETH) in the Market

A couple of days ago, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, embarked on a meteoric upside trend to record an all-time high of $1,440. The coin made a pullback after reaching the record price. Since then, the top cryptocurrency has been struggling to print a similar trend.

Read Also: $15 Million in BTC of Satoshi Nakamoto Era Just Moved for the First Time in 10 Years

At the time of filing this report, ETH is trading at $1,228.85, with a 0.37% price uptrend in the last 24 hours.

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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.

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