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.
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 (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.
Glassnode tweeted, “Ethereum ETH Balance on Exchanges just reached a 15-month low of 15,423,305.652 ETH.”
— glassnode alerts (@glassnodealerts) January 23, 2021
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.
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.