Ethereum Whale With 720,000 ETH In Bag Awakens Suddenly After 2-Year Slumber

An Ethereum ETH/USD whale holding 720,000 ETH, worth $817 million, has awakened after two years of dormancy.

What Happened: According to on-chain analytics firm Lookonchain, the whale had 9 wallets before, each holding 80,000 ETH, and now has 8 wallets, each holding 90,000 ETH.

This comes as whales moved around 400,000 ETH on Monday from exchanges, as per Whale Alert. Over $445 million worth of ETH was moved to unknown wallets as the overall crypto market slumped.

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Data from Coinglass reveals that $29.68 million worth of ETH has been liquidated in the past 24 hours.

Pseudonymous crypto analyst Capo has predicted an incoming bear rally and said ETH can fall between $600 and $650.

On Monday, Etherscan data showed that FTX FTT/USD hacker moved over 180,000 Ethereum to 12 new wallets, evenly distributing 15,000 ETH to each wallet.

Price Action: At the time of writing, ETH was trading at $1100, down 1.81% in the last 24-hours. BTC at $15,860 down 0.78%, according to Benzinga Pro.

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