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Whales Shift $1.42 Billion in Ether as ETH Trades Above $4,000

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Thu, 10/28/2021 - 08:46
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Yuri Molchan
Over $1.4 billion worth of Ethereum has been transferred by crypto whales in lumps of a mind-blowing size; Bloomberg's strategist expects ETH to hit $5,000
Whales Shift $1.42 Billion in Ether as ETH Trades Above $4,000
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Popular crypto tracking service Whale Alert has noticed around a dozen massive Ethereum transactions, carrying an astounding $1,424.9 billion worth of Ether in all.

In the meantime, the second-most-popular crypto is trading at $4,013, as per data provided by CoinMarketCap.

Whales and Binance shift over $1.4 billion in Ethereum

The overall amount of Ethereum shifted constitutes 460,792 ETH and, by now, is worth $1,850,462,337.36 in fiat.

Some of these transfers were initiated by whales, while some of this ETH was moved by crypto exchanges. Binance transferred 44,500 Ether. Each of these transfers carried from 14,000 to 20,000 and 30,000 ETH.

The largest transfer moved a whopping 146,169 ETH from one anonymous wallet to another. That is the equivalent of $579,638,839 in fiat.

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Top ETH whales have been buying ETH since August

As reported by U.Today earlier, Santiment analytics vendor spread the word that top Ethereum addresses have been accumulating ETH since late summer. Now, these ETH whales have added 13.9% of the circulating ETH supply to their bags.

The aforementioned wallets hold from 1 million to 10 million Ethereum coins.

In other news, the ratio of non-exchange ETH whales to exchange ones has now soared to 5:1. Top-tier non-exchange wallets now hold 22.91 million Ethereum compared to 4.6 million ETH owned by whales and held on centralized exchange wallets.

Ethereum is on track to $5,000: Mike McGlone

Chief commodity strategist of Bloomberg, Mike McGlone, has recently taken to Twitter to share his take on why the second-largest crypto, Ethereum, could be on track to hit $5,000.

The Bloomberg expert tweeted that the blockchain co-founded by Vitalik Buterin has become a major tool for the digitization of finance and money. Therefore, this is a solid foundation that is likely to push Ethereum further upβ€”to the $5,000 level.

McGlone also mentioned Bitcoin, reminding the audience that its supply is declining and the demand for it is surging, which is also a sign of the explosive growth Bitcoin is likely to see.

In his earlier tweets this year, the expert opined that by the end of 2021, Bitcoin may reach a whopping $100,000.

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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. β€˜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.