According to analytics platform Lookonchain, a dormant Ethereum whale recently woke up from hibernation after six months of inactivity.
The address sent a whopping $228.6 million worth of Ethereum (ETH) to Bitfinex shortly before a recent price crash.
As reported by U.Today, the cryptocurrency market recently got hit by $2.2 billion worth of liquations within just 24 hours.
Ethereum (ETH) has nose-dived by more than 20% over the past 24 hours alongside some other major cryptocurrencies.
Alex DovbnyaNearly $480 million worth of ETH long positions has been liquidated, with the flagship altcoin taking a much bigger hit than Bitcoin (BTC).
Meanwhile, a whale who shorted ETH with 50x leverage right before the market crash currently has an unrealized profit of over $30 million.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov