Main navigation

Whales Move 61,000 ETH Within 2 Hours While Coin Is Deep in Red

Tue, 01/25/2022 - 11:21
article image
Yuri Molchan
Two weighty ETH stashes have been wired by Ethereum whales in the past two hours, while the coin remains under $2,500
Whales Move 61,000 ETH Within 2 Hours While Coin Is Deep in Red
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

Popular blockchain tracking platform Whale Alert has detected two crypto transactions made by anon ETH whales, carrying $143.1 million worth of Ether.

Meanwhile, the second largest cryptocurrency remains below the $2,500 level after the recent price crash.

61,000 ETH on the move as ETH is in the red

According to Whale Alert, over the past two hours, two transactions, each carrying 30,095 ETH ($71,619,331), have been performed. Apparently, one amount of ETH was just moved between several addresses. First, an anonymous whale shifted over 30,000 ETH to another address with an unregistered owner—0xab08bfb2e55b079d9961dae5164ba0d846a1ede1—and then this large Ether stash was sent to the FTX crypto exchange.

Large amounts of Ethereum have been moved around recently, as whales have been buying and selling the second biggest crypto after its recent price dive—from $3,248 on Jan. 20 to the $2,181 low on Jan. 24.

At press time, the price has managed to restore to the $2,426 mark, rising over 8% in the past 24 hours.

ETHwhalesmoved_00
Image via Twitter

Related
Ripple Keeps Demanding Ethereum Docs from SEC

Ethereum dumps "ETH 2.0" upgrade title

In a recent blog post published by the Ethereum Foundation, it was stated that Ethereum is moving away from using such terms as "ETH 1.0" and "ETH 2.0" since they may be confusing for the majority of users and investors.

Now, these have been replaced with the "execution layer" (ETH 1.0) and the "consensus layer" (ETH 2.0).

This was done in order to stop confusion that has begun to arise as "ETH 1.0" fades into "ETH 2.0." In reality, Ethereum devs say, both are an active part of Ethereum, so the "consensus layer" stands for the transition from a proof-of-work (PoW) protocol to a proof-of-stake (PoS) one.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.