Someone Just Sent $50M In Ethereum To An Anonymous Wallet

What happened: $50,427,300 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: 0xca436e14855323927d6e6264470ded36455fc8bd

$50 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x6571d6be3d8460cf5f7d6711cd9961860029d85f

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.

You can view more details about the transaction here

According to Glassnode, there are 92,262 Ethereum wallets with over $100,000 in ETH.

See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers

Price Action: Ethereum is down -7% 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.