An Ethereum chart provided by Glassnode on May 12 demonstrates that a mind-blowing batch of 103,124 ETH was recently sent to crypto exchanges in only a ten-minute period.
This happened shortly before the second-largest digital currency plunged below the $3,900 level, as CoinMarketCap shows.
$410 million in ETH moved to crypto exchanges
A Glassnode chart shared by the Moskovski Capital CIO shows that a whale transferred a staggering $410,663,486 worth of Ethereum to trading platforms—to OKEx in particular, details reveal.
When the tweet was published, this ETH amount was worth $10 million more.
Soon after the crypto was moved, the second-biggest digital currency plunged from the $4,172 level to the $3,966 zone.
After that, another decline in price took place as ETH dropped to $3,840 after posting a short rise to the $4,164 mark.
In a comment to the post, Lex Moskovski added some details of what happened. As per Moskovski, this could have either been a shuffling of funds made by OKEx, or the second option is spoofing.
ETH active addresses soar to a new ATH
In another tweet, the same analyst shared one more Glassnode chart. It reveals that the number of active ETH addresses had reached a new historic peak of almost 800,000.
Even with the current Dogecoin trend surging in popularity, this is still an impressive milestone, Lex Moskovski comments.
At press time, the second-biggest digital currency, ETH, is exchanging hands at $3,958, according to data from CoinMarketCap.
Ethereum hits a new ATH
On March 12, Ethereum's native crypto, ETH, spiked to hit a new historic peak of $4,362, according to CoinMarketCap.
On the same day, also, the total value of ETH locked in the ETH 2.0 deposit contract for staking reached an all-time high of $18,863,639,976.50.
That is 4,822,202 Ethers at the current exchange rate.
Dan Burgin
U.Today Editorial Team
