As per the data provided by Whale Alert DLT sleuth, over the past twenty hours, large crypto whales and top digital exchanges have made around ten transfers, carrying a total of $706 million worth of Ethereum.
Overall, approximately 214,861 Ethereum was transferred with the participation of anonymous large holders of Ether (aka whales) and major crypto exchanges, such as Gemini, Binance, Kucoin. The largest transfers here carried between 51,300 ETH and 42,859 ETH ($169,000,000 and $146,000,000).
At the time of writing, the second largest cryptocurrency Ethereum is sitting at $3,284, as per CoinMarketCap. Earlier this week, it managed to recover the $3,000 level.
On Friday, founder and CEO of the 1confirmation venture fund supported by such billionaire investors as Mark Cuban and Peter Thiel, Nick Tamaino, shared that in the third quarter of 2021 over $1.35 billion worth of Ethereum (409,764 ETH) was burned.
Burning mechanism for Ethereum was introduced with the London hardfork released on August 5 this year, which is helping Ethereum to become a deflationary cryptocurrency.