Crypto whales are currently on the move as a major entity with almost half a billion dollars worth of Ethereum (ETH) was spotted pulling coins from crypto exchanges.
First spotted by blockchain tracking company Lookonchain, an address starting with “0x4359” was spotted pulling their ETH from Binance and decentralized exchanges (DEXs).
Lookonchain says the whale has collected approximately $405.19 million worth of ETH in less than two weeks.
“This Giant Whale Raised 10,119 ETH ($31.85 Million) from Binance…
He has purchased 127,388 ETH ($405.19 million) from DEX and Binance since April 8, with an average purchase price of ~$3,172.
On the same day there was another unknown entity spotted by whale tracking service Whale Alert sending 14,408 ETH worth over $45.745 million to crypto exchange OKX.
Whale Alert also has one wallet who was involved in the initial coin offering (ICO) of Ethereum move 197 ETH worth $622,685. According to Whale Alert, the wallet had been inactive for almost nine years before the latest transfer.
There was another whale seen an attempt to go long Ethereum after previously losing millions trying to make the same move. Lookonchain identified the entity that borrowed USDT from lending platform Compound (COMP) to long ETH.
“This whale went long ETH again.
He lost twice while long ETH, for a total loss of $4.5 million!
[On Sunday]he withdrew 8,249 ETH ($26.18 million) from Binance and deposited it into Compound, after which he borrowed 17.3 million USDT from Compound.”
At the time of writing, Ethereum is trading at $3,222.
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Generated image: Midjourney