231,886 ETH Was Just Transferred Between 2 Wallets

What happened: $299,332,632 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: 0x7b0419581eb2e34b4d3bfc1689f1bd855d364d9d

$299 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0xe4d0b9a7c48a661065148ca996f5b649e3eaf2e8

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 58,563 Ethereum wallets with over $100,000 in ETH.

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

Price Action: Ethereum is down -6% 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.