Whales are suddenly moving hundreds of thousands of Ethereum (ETH) as crypto markets witness a severe sell-off event.
Blockchain survey service Whale Alert detected a series of Ethereum transactions totaling 353,579 ETH and worth nearly $400 million.
One of the largest transactions of the past day involved a deep-pocketed investor abruptly relocating 149,999 ETH worth $276.16 million from a wallet of unknown origin to US-based cryptocurrency exchange Coinbase.
? ? ? ? ? ? ? ? ? ? 149,999 #ETH (276,161,338 USD) transferred from unknown wallet to #coinbasehttps://t.co/ETQxsjeoby
— Whale Alert (@whale_alert) June 5, 2023
Whale Alert shows that the crypto whale paid around $3 in transaction fees to move the huge Ethereum stack.
A different entity too moved 149,999 ETH worth $276.16 million from an unknown wallet to Coinbase. The crypto whale shelled out just over $3 for the transfer.
Whale Alert also reports three other large Ethereum transactions that saw tens of thousands of ETH move from unknown wallets to Coinbase.
Since all of the ETH mentioned was moved to a crypto exchange, they could potentially be sold on the open market.
As of this writing, Ethereum is trading at $1,809, down almost 4% in the last 24 hours.
Don’t miss a thing: sign up to receive crypto email alerts straight to your inbox
Check Price Action
follow us TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.
Generated Image: Half the Journey
Shutterstock/Tomasz Makowski
