According to market developments, an Ethereum (ETH) whale has moved $13.2 million worth of Ether to the OKX exchange. On August 12, blockchain analytics firm Lookonchain detected a transaction involving 5,000 ETH. This brings the total amount of ETH the whale has offloaded to a remarkable $154 million.
The whale’s address, which corresponds to a beneficiary of 1 million ETH from Ethereum’s ICO, has been very active recently. A whale has transferred over $154 million in Ethereum to OKX over the last 35 days, with transfers occurring in batches of 1,000 to 5,000 ETH. To validate the address, a test deposit of 1 ETH was done on July 8; the average deposit price was $3,176 per ETH.
Social media has been thriving with speculation about the whale’s identity, with suggestions pointing to Ethereum’s co-founders, such as Vitalik Buterin, Joseph Lubin, or Anthony Di Iorio. While some traders are concerned about the impact of such large sales, others believe it’s a strategic move to avoid potential future losses.
Whale Activity Sparks Ethereum Price Surge
On 9th August, a major whale increased its holdings by acquiring 1,800 ETH, bringing it to about 37,800 ETH. The specific account has had these acquisitions since May 24, worth $100.2 million, at an average cost of $2,420 per ether coin obtained. As of now, ETH is priced at $2,668, which shows a 5.38% gain over the last twenty-four hours.
Ethereum (ETH) is currently valued at $2,653.65, reflecting a 3.20% increase over the past day. Its market capitalization is $319.16 billion, securing its position as the second-largest cryptocurrency. The 24-hour trading volume is $21.57 billion, accounting for 38.67% of the market cap. The volume-to-market cap ratio is 6.85%.
On July 8th, Ethereum holders made an initial deposit to OKX with a transaction amount of 1ETH for testing purposes; these transfers, worth approximately $3,176, were later linked to possible market effects. However, not all such whale activity is negative, given the amount of attention this case attracted. Another whale spent $12.8 million buying about five thousand ETH on the same date.
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