An Ethereum whale is suddenly moving hundreds of millions of dollars worth of ETH as the king altcoin flash signs of weakness.
According to data from whale-watching platform Whale Alert, the deep-pocketed investor transferred 100,000 ETH worth a staggering $145.62 million at time of writing from one anonymous wallet to another.
[adinserter block="1"]Whale Alert also finds that the tokens were moved on the morning of September 16th, just one day after the second largest crypto asset by market cap transitioned from a proof-of-work consensus mechanism to a proof-of-stake one, making the top altcoin more eco-friendly.
Other notable Ethereum transfers by high-net-worth traders on Whale Alert’s radar include:
- 50,000 ETH worth $72.12 million transferred from crypto exchange platform Gemini to an unknown wallet.
- 35,000 ETH worth $50.87 million transferred from an unknown wallet to an unknown wallet.
- 50,000 ETH worth $72.28 million transferred from an unknown wallet to an unknown wallet.
- 39,450 ETH worth $56.94 million transferred from an unknown wallet to an unknown wallet.
- 99,858 ETH worth $147.16 million transferred from an unknown wallet to an unknown wallet.
- 109,515 ETH worth $160.51 million transferred from an unknown wallet to an unknown wallet.
- 98,403 ETH worth $144.72 million transferred from an unknown wallet to an unknown wallet.
The transfers come days after market intelligence firm Santiment noted that the leading smart contract platform’s network value to transaction (NVT) metric, which describes the relationship between transfer volume and market capitalization, is in its best state in 16 months.
ETH is changing hands for $1,433 at time of writing, a 5% dip during the last 24 hours and a 19.3% drop from its seven-day high of $1,777.
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