Whales Shift $535 Mln Worth of Ethereum as ETH Trades at $515 High

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Sat, 11/21/2020 - 10:37
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Yuri Molchan
More than one million in Ethereum has been transferred by anonymous whales as ETH hits $515 and keeps rising; meanwhile 30% of ETH has been locked in by validators
Whales Shift $535 Mln Worth of Ethereum as ETH Trades at $515 High
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Crypto whales have pushed one million ETH between their wallets, large blockchain tracking service Whale Alert reports, while ETH has soared to the $515 level and keeps going higher.

ETH
Image via CoinMarketCap

Whales move $535 mln in ETH

According to the data shared by Whale Alert, over the past eight hours, a jaw-dropping amount of consecutive ETH transactions that carried slightly over 1 mln ETH ($535 mln in fiat).

The transactions were made between anonymous wallets, carrying lumps of 60 mln to 70 mln ETH each.

ETH
Image via Twitter

ETH surges to the highest level since 2018

The second biggest currency created by Vitalik Buterin’s mind reached at all-time high of $1,357 on January 10, 2018. Since then, after going below the $500 level, Ether has not been seen at it again, except now.

For the first time in two years, ETH has reached $515, after several smaller peaks in 2020. The highs reached earlier this year included $281 on February 15, $437 on August 15, then $481 on September 2 and $515 on November 21 today, as per the data from CoinMarketCap.

The majority of crypto market in the green at the moment, following the firm rise of Bitcoin above the $18,600 level. All of the top ten coins are on the rise, apart from USDT.

Related Three Reasons Why Ethereum (ETH) Skyrocketed to $491 Today
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Three Reasons Why Ethereum (ETH) Skyrocketed to $491 Today

30% ETH sent to the ETH 2.0 deposit contract

More good news today is that, slowly but surely, another ten percent of the necessary ETH amount has been sent by validators to the ETH 2.0 contract.

Two days ago, the number of deposited Ethereum totaled 105,000 ETH ($81 million), which was around twenty percent of the expected amount.

Today, Anthony Sassano ETH developer tweeted that by now the number of locked coins has surpassed 158,016 ETH ($81 million).

He added that over the past twenty-four hours, the biggest ETH amount has been deposited. The aforementioned amount stands for 30 percent of the 524,288 ETH necessary to kickstart the ETH 2.0 upgrade on December 1 on scheduel. That requires each validator to lock in a minimum of 32 ETH.

“158,016 ETH ($81 million) has been sent to the deposit contract with the last 24 hours representing the highest amount of deposits in a single day. This is ~30% of the amount needed to kick-start the eth2 Beacon Chain.”

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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.