Prominent Ethereum (ETH) Investors Shift Over $100 Million Worth of ETH to Major Exchanges
Recent data from Whale Alert, a platform specializing in tracking crypto whale activity, reveals that deep-pocketed investors in Ethereum (ETH) have transferred nearly $140 million worth of the leading smart contract platform to prominent cryptocurrency exchanges such as Coinbase, Kraken, and OKX.
One notable transaction involved a whale moving 20,000 ETH, valued at just over $38 million, from the layer-2 scaling solution Arbitrum (ARB) to Kraken, a San Francisco-based crypto exchange.
Another instance witnessed a high-net-worth trader transferring 25,264 ETH, equivalent to approximately $48.3 million, from an undisclosed wallet to Coinbase, the largest US-based crypto exchange platform in terms of trading volume.
In a third occurrence, a crypto whale repositioned 30,000 Ethereum, worth about $57.7 million, from an unknown wallet to OKX, a crypto exchange based in Seychelles.
Earlier this month, blockchain tracking firm Lookonchain reported that an ETH whale withdrew over $91 million worth of the prominent altcoin from Binance, the world's largest cryptocurrency exchange by trading volume, since June 8th.
Additionally, the data reveals that this deep-pocketed trader has also staked approximately $65 million worth of Ethereum.
"The whale has withdrawn 50,100 ETH ($91.2 million) from Binance since June 8 and staked 34,560 ETH ($65 million)."
As of the time of writing, Ethereum is trading at $1,889, reflecting a 1.14% decrease in value over the past 24 hours.
Photo by Kanchanara on Unsplash
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