Someone Just Sent $64M In Ethereum To An Anonymous Wallet

Someone Just Sent $64M In Ethereum To An Anonymous Wallet

What happened: $64,571,123 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: 0xa5068741aecfeb8f8ff503d6e73e13b6586a6980

$64 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x50e0c1b8eafa9bf4fe5ec6aca405f0fee7ff05b5

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 73,559 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.

Posted In: BZI-CWCryptocurrencyMarketsMoversTrading Ideas

Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month