Two dormant Ethereum ETH/USD wallets transferred 22,983 ETH, valued at over $27 million.
What Happened: On-chain data reveals that whales have not been active for five years but woke up on Sunday.
At the time of writing, it remains unclear as to what the transfers were related to or who the Ethereum whales were.
See More: Best Crypto Day Trading Strategies
These whales aren't alone — Three Arrows Capital (3AC) also made a big splash in the Ethereum market recently.
On Monday, 2,000 Ethereum worth roughly $2.38 million was withdrawn from Binance, making this a sizable move for 3AC. The address still holds 6,595 Ethereum worth around $7.85 million.
Meanwhile, on Friday, an anonymous crypto wallet holding $37,347,245 of Ethereum transferred its funds to Coinbase.
Price Action: At the time of writing, Ethereum was trading at $1,182, down 0.38% in the past 24 hours, according to Benzinga Pro data.
Read Next: Bitcoin, Ethereum, Dogecoin Flat Ahead Of Fresh Trading Week: Analyst Says Risk Aversion 'Running Wild' Amid Binance Worries
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
