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Whales Shift $110.5 Million in ETH as Ethereum Hits New All-Time High

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Mon, 01/25/2021 - 09:05
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Yuri Molchan
As Ethereum has hit a new all-time high, whales have transferred a whopping $110.5 million in ETH from crypto exchanges, pushing ETH balances to a 15-month low
Whales Shift $110.5 Million in ETH as Ethereum Hits New All-Time High
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Earlier today, the second largest digital currency hit a new all-time high at the $1,467 level as per data from CoinMarketCap.

In the meantime, crypto whales and other users have pushed Ethereum balances on exchanges to a 15-month low.

Ethereum reaches a new all-time high

After peaking at an all-time high of $1,448 on Jan. 19, the second biggest cryptocurrency traded in a range, moving between the $1,300 and $1,200 areas.

However, earlier today, on Jan. 25, the native coin of Vitalik Buterin's brainchild, Ethereum, went up to a new ATH of $1,467 per coin.

Related
Whales Move $451.3 Million in ETH from Top Exchanges, ETH Balance on Platforms Hits Major Low

Users drain ETH balances on exchanges

As per data shared by Glassnode analytics team, ETH balances on crypto exchanges have dropped to a 15-month low of 15,500K ETH.

ETH
Image via Twitter

Users have been acquiring ETH and withdrawing it to their cold storage devices and online wallets for long-term holding. Financial institutions are also among them, with Grayscale on that list, holding $3.393.7 million in its Ethereum Trust as per data shared by the company on Jan. 22.

Meanwhile, crypto whales have also moved a staggering amount of ETH over the past 24 hours.

They have transferred a mammoth amount of over $110.5 million worth of ETH, or approximately 86,277 ETH.

Some ETH lumps were withdrawn from crypto exchanges, such as Binance and others, to anonymous wallets. Other portions of ETH were moved between crypto wallets with unregistered owners.

ETH
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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.