Ethereum

Ethereum Wal immediately bought 24,000 ETH ($ 100 million) and transferred it to a personal wallet

With the correction taking place in the cryptocurrency market, some large traders and investors have chosen to buy dips to cover losses when the market rebounds or to make additional profits by buying low and selling high. Recently, whale did a big deal: instantly bought $ 100 million and transferred it to his personal wallet.

ETH pocket whale

While the market hasn’t reported great purchasing power in the near future, multiple tracking services throughout the day noticed a massive ETH transaction of up to $ 100 million that was instantly remitted. It can be seen that this is a transaction where a whale is transferring money from the Gemini purse to a personal wallet.

Source: Whale Alert

The wallet is now valued at $ 92 million after the Ethereum price fell 8% from before. The wallet is constantly sending and receiving funds, suggesting it is tied to a project or even an exchange, but no details have been confirmed.

With the increasing volatility of the crypto market, whale trackers are now picking up even more and this group is extremely busy than it used to be. In addition to the increased activity, the average value of each transaction increased by up to 80%. The majority of published trades are flowing from the exchange, suggesting that selling pressure is now coming from retailers rather than institutional investors and whales.

While the largest cryptocurrency in the market is currently trading at a 16% weekly loss, Ethereum has shown a more reliable performance as it only lost 12% over the same period.

ETH / USD 4H | Source: TradingView

At press time, the Ethereum price is trading at $ 4,026 and is even showing slight growth against Bitcoin. Several industry experts note that the dominance of Ethereum over Bitcoin is growing and has reached the highest level since the “ICO era” in 2017 – a time when the dominance of ETH in the market was enormous. Schools scored 31%.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.