Ethereum and Bitcoin whales are making their presence known as BTC clings to a crucial level of support at $23,000.
In the last 24 hours, three Ethereum whales initiated massive transfers to crypto exchanges Binance and Coinbase.
The first transfer sent 92,170 ETH worth $150.9 million from an unknown wallet to Binance.
The whale in question left a relatively small amount of 1,000 ETH in their wallet, worth $1.6 million.
— Whale Alert (@whale_alert) February 24, 2023
Several hours later, a separate Ethereum whale sent 25,361 ETH worth $40.5 million from an unknown wallet to Coinbase.
This whale essentially drained their Ethereum wallet to zero in the process.
Soon after that, a third Ethereum whale abruptly transferred 15,110 ETH worth $24.3 million transferred from a wallet of unknown origin to Coinbase.
That whale also drained their wallet to zero.
Not to be outdone, a massive Bitcoin whale then emerged, moving 9,475 BTC worth $219.5 million between two unknown wallets.
The BTC does not appear to be headed to any crypto exchanges, where it could potentially be sold on the open market.
Bitcoin is down 0.4% in the last 24 hours, trading at $23,045 at time of publishing. Ethereum is up 0.6% in the last day, at $1,598.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/klyaksun