Two anonymous transactions have been made to the Ethereum staking contract, worth approximately $140 million. The most recent transaction of 22,500 was made only eight hours ago, according to the Nansen tracking platform.
While the two whales are not considered the largest ones in the contract, the volume of only one transaction is what makes them stand out. The first in the contract is held by another "ETH millionaire" with 62,000 Ether staked in the contract for almost 180 days.
After the market was hit with a correction and the majority of coins lost up to 60% of their value, more traders and investors decided to move their funds into solutions like the Ethereum Staking Contract. The solution allows users to earn passive Ether income in exchange for their funds.
The total ETH deposited to the contract currently remains at 1.9 million, with 30,600 unique depositors tracked by Nansen. As for the large transaction made today, according to Alex Svanevik, the wallet is owned by Gnosis decentralized infrastructure that holds more than $30 million worth of GNO.
The second-largest position in the staking contract is being held by Three Arrows Capital, whose CEO has previously described how the behavior of Bitcoin investors has changed on the market compared to the 2018 cycle. The analyst believes that the crypto industry has turned into a long-term investment industry, and more investors would prefer holding rather than speculating with assets.
At press time, Ethereum is trading at $2,750, with a 4% price increase in the last 24 hours. Previously, the second-largest cryptocurrency on the market lost 19% of its value due to the global risk-off on financial markets.