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HomeCryptocurrencyEthereum Whales Moved Nearly $1 Billion in ETH As Market Pulls Back

Ethereum Whales Moved Nearly $1 Billion in ETH As Market Pulls Back

Whale Alert, the tracker of large cryptocurrency transactions from and to exchanges, has reported the transaction of relatively $1 billion worth of Ethereum (ETH) over the past hours, as the market embarks on an expected pullback.

According to Whale Alert and first published by Daily Hodl, the huge crypto transfer was completed in 15 separate transactions.

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This week, the largest transaction of Ethereum was the movement of 50,000 ETH worth $160 million at current prices, which was initiated from Gemini exchange to an unknown wallet.

Moments later, another unknown wallet sent 43,997.133 ETH worth $138 million to a separate unknown wallet.

On Wednesday, the fourth unknown wallet transferred 32,020 ETH worth relatively $98 million to the fifth unknown wallet.

Read Also: Kevin O’Leary of Shark Tank: If Bitcoin (BTC) Is Sound Money, Ethereum (ETH) Is Ultra Sound Money

As tracked and reported by Whale Alert, below are other huge transactions between exchanges and unknown wallets:

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Ethereum (ETH) in the Market

Ethereum (ETH), the second-largest cryptocurrency by market cap, rallied beyond $3,300 over the weekend. The magnificent move renewed the hope of revisiting $4,000, but the cryptocurrency has since dipped below $3,000.

At the time of filing this report, Ethereum (ETH) is trading at $2,990, with a relatively 2% price downtrend in the last 24 hours, according to CoinMarketCap. The cryptocurrency is now down 4.32% on the week amid a wide market pullback that started on 17th August.

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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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