$251M In Ethereum Was Just Transferred Between 2 Wallets

What happened: $251,614,445 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: 0xb8001c3ec9aa1985f6c747e25c28324e4a361ec1

$251 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0xb9711550ec6dc977f26b73809a2d6791c0f0e9c8

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 53,814 Ethereum wallets with over $100,000 in ETH.

Price Action: Ethereum is up 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.

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