Ethereum Whales Are Putting Their Ether Into Play Prior to the Merge

Ethereum Whales Are Putting Their Ether Into Play Prior to the Merge
  • The transaction was worth 8,000 ETH ($12,084,840), at the time of writing. 
  • Last week, Ethereum registered over 2 million unique active addresses.

Ethereum (ETH) is the second largest cryptocurrency in terms of market capitalization and it holds over 18.4% of the market share. Due to the current market volatility, Ethereum has lost almost 68% of its value since reaching an all-time high of $4891 in November 2021.

Despite the market volatility, according to Whale Alert, Crypto.com, the sixth largest cryptocurrency exchange by daily trading volume purchased 8,000 ETH from an Unknown wallet, the transferred amount worth approximately $12,084,840, at the time of writing.

Whale Eye On Ethereum

Over a single day, ETH worth millions of dollars were transferred from the unknown wallet to a Crypto.com exchange. The transaction was successfully completed at 01:42:21 UTC Today, (July 25, 2022).

Whale Alert a blockchain research and monitoring company, will collect all data from many blockchains and keeps it in one database. These databases are then manually updated with artificial intelligence’s help (AI). the company collected this transaction data from Etherscan, a block explorer and analytics platform for Ethereum.

According to CoinMarketCap, at the time of writing, ETH is traded at $1,526.65 with a trading volume of $19,267,201,366. Ethereum has raised over 6.45% in the last 7 days with a market cap of  $185,773,233,516.

Data from Glassnode, at end of last week, Ethereum registered over 2 million unique active addresses and it has 59 million active addresses with a non-zero balance.

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A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.