What happened: $55,719,034 worth of Ethereum (CRYPTO: ETH) was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person's Ethereum wallet address has been identified as: 0x50db4ef6b010c165b9ed16ec1e59b3b36443513a

$55 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0xe864c9439eb042e969c59dd13d38cfdb28e16d73

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 99,644 Ethereum wallets with over $100,000 in ETH.

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

Price Action: Ethereum is up 4% 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.