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Whale Moves Over $154,000,000 Worth of Ethereum in One Massive Transfer – Here’s Where the Crypto Is Going

by Daily Hodl Staff
May 8, 2023
in Ethereum, Trading

A mysterious Ethereum whale is suddenly on the move, shifting tens of thousands of ETH in one big transaction.

The blockchain-monitoring service Whale Alert initially spotted the large Ethereum transfer.

According the Whale Alert, the investor with deep pockets relocated 80,000 ETH worth $154.58 million from a wallet of unknown origin to crypto exchange Binance.US.

? ? ? ? ? ? ? 80,000 #ETH (154,585,877 USD) transferred from unknown wallet to #BinanceUShttps://t.co/LKmthzKGnB

— Whale Alert (@whale_alert) May 6, 2023

Blockchain data also shows that the large entity shelled out less than $4 in ETH to process the multi-million-dollar transaction.

Whale Alert also caught a handful of large Ethereum transactions over the weekend.

One whale relocated 19,093 ETH worth $36.81 million from an unknown wallet to US-based crypto exchange Coinbase. Whale Alert reveals that the whale paid $4.20 to move the large ETH stack.

Whale Alert also tracked the movement of 15,000 ETH worth over $30 million from a wallet controlled by the Ethereum Foundation to crypto exchange Kraken. The Ethereum developer paid more than $11 to move the ETH trove.

In another transfer, a deep-pocketed investor shifted 12,800 ETH worth $25 million from a wallet of unknown origin to Coinbase. The whale paid less than $11 in transaction fees.

Since all of the ETH mentioned were moved to a crypto exchange, they could potentially be sold on the open market.

At time of writing, Ethereum is trading for $1,861, down over 1.27% in the last 24 hours.

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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 losses 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.

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