What happened: $56,401,033 worth of Ethereum ETH/USD was just moved between 2 anonymous cryptocurrency wallets in a single transaction.
This mysterious person's Ethereum wallet address has been identified as: 0xecaa8f3636270ee917c5b08d6324722c2c4951c7
$56 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0xc36442b4a4522e871399cd717abdd847ab11fe88
Why it matters: Cryptocurrency whales that own millions of dollars in Ethereum tend to move markets single-handedly. If the whale decides to exit this Ethereum position, there could be enough market impact to push down the price of ETH. It takes about $15 to $30 million of sell pressure to move the price of Ethereum down 2% on any given exchange.
According to Glassnode, there are 131,111 Ethereum wallets with over $100,000 in ETH.
Price Action: Ethereum is up 0% in the past 24 hours.
See Also: How To Buy Ethereum
Public Blockchain data sourced from Whale Alerts Twitter.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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