$116M In Ethereum Was Just Transferred Between 2 Wallets

What happened: $116,749,493 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: 0xeb407c85e8ee7c2eadabf556b3f3198714f9a43e

$116 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x09c6612b3868d4b5b13e6a68477fb29d4bbc2c89

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 60,628 Ethereum wallets with over $100,000 in ETH.

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

Price Action: Ethereum is up 0% 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