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.
According to Glassnode, there are 68,215 Ethereum wallets with over $100,000 in ETH.
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.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month