Investors in the largest altcoin moved 7,00,000 Ethereum tokens

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • Large investors transferred 7,29,151 Ethereum tokens in 5 different transactions
  • ETH whales have been purchased by large institutions and they had mined almost half of the coins mined this year so far
  • By one report it is also observed that the concentration by large holders for ETC is around 41%, and Ethereum/s price correlation with BTC is around 0.79

The  Whale Alert, live tracking and analysing millions of blockchain transactions firm, revealed via a tweet that large investors transferred 7,29,151 Ethereum tokens in 5 different transactions of 1,36,800 Ether, 1,71,309 Ether, 1,36,912 Ether, 1,35,855 Ether and 1,48,275 Ether, from unknown wallets to unknown wallets.

We have seen in recent times, that ETH whales have been purchased by large institutions and they had mined almost half of the coins mined this year so far. When the report came, Ethereum’s traded value was at $357.11 with a daily trading volume of $10 billion. Ethereum has a circulating supply of 110 million coins and a maximum supply of infinity coins. It is also observed that its price in the last 24hours is up by 0.1%.

Investors Interest

Seeing this renewed interest from the large institutions has made it one of the most valuable digital assets of the year. Whales are going for a bounce-back as ETC’s price took a pick up from its recent lows. The price of ETC is getting higher week by week. By one report it is also observed that the concentration by large holders for ETC is around 41%, and Ethereum/s price correlation with BTC is around 0.79. Ethereum is currently holding a market capitalization of $40.25 billion.

Who are “Whales”?

In the world of Ethereum, traders or investors, basically, large institutions who own a large number of Ethereum coins for around 1000 coins or more in a single Ethereum address, are typically known as whales.

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