Anonymous Crypto Wallet Moves $49M Worth Of Ethereum

Anonymous Crypto Wallet Moves $49M Worth Of Ethereum

What happened: $49,924,542 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: 0x77ee51e61e7f7075e145b205c9fc2aee218ddaff

$49 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0xa205fd7344656c72fdc645b72faf5a3de0b3e825

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 68,215 Ethereum wallets with over $100,000 in ETH.

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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.

Posted In: BZI-CWCryptocurrencyMarketsMoversTrading Ideas

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