According to a tweet by Whale Alert, 24,000 ETH worth $100 million was bought by and transferred to a personal wallet which was clearly a transfer of money from the Gemini wallet to the whale’s personal wallet
Large investors and traders have taken advantage of the current correction in the cryptocurrency market by buying dips to cover losses or making additional profits by buying low and selling high.
An Ethereum whale recently made a big deal: he purchased $100 million and transferred it to his personal wallet in a matter of minutes.
ETH’s whale of a wallet
A massive ETH transaction of up to $100 million was immediately remitted by multiple tracking services throughout the day, despite the fact that the market has not reported great purchasing power in the near future. This is clearly a transfer of money from the Gemini wallet to the whale’s personal wallet.
Due to the 8 percent drop in Ethereum’s price, the wallet is currently worth $ 92 million. Despite the fact that the wallet is constantly exchanging and receiving money, there are no confirmed links to a project or exchange.
Whale trackers are becoming more active as the cryptocurrency market becomes more volatile, and this group is currently more active than ever before. The average transaction value rose by up to 80% as well, on top of the already high volume.
It appears institutional investors and whales are no longer exerting selling pressure on the market, as the vast bulk of trades are coming from the exchange itself.
In contrast, Ethereum, the second-largest cryptocurrency in the market, has shown more consistent performance, losing only 12 percent over the same time span as Bitcoin.
There has been a slight increase in the value of Ethereum over the last few days, trading at $4,026 at the time of this writing.
The dominance of Ethereum over Bitcoin is expanding and has reached its highest level since the “ICO era” in 2017 — a time when ETH’s market share was massive. Schools received a grade of 31 percent.
