323,500 Ethereum (ETH) Shifted to Coinbase as Price Keeps Falling – Crypto News – Crypto News
Connect with us
323,500 Ethereum (ETH) Shifted to Coinbase as Price Keeps Falling 323,500 Ethereum (ETH) Shifted to Coinbase as Price Keeps Falling

Cryptocurrency

323,500 Ethereum (ETH) Shifted to Coinbase as Price Keeps Falling – Crypto News

Published

3 years ago

on

Yuri Molchan

Anonymous whales have shoveled nearly half a billion USD in Ethereum to Coinbase

As reported by Whale Alert crypto tracker, over the past 24 hours, close to half a billion US Dollars in the Ethereum The equivalent has been shoveled to major US crypto trading venue Coinbase.

This has happened as the second largest cryptocurrency in terms of market cap has lost more than 10% over the past week and dropped 1.20% during the period of the last 24 hours.

The transactions were conducted from three different wallets, moving lumps of 149,999 ETH, again 149,999 ETH, and finally 23,432 ETH to three different wallets linked to the coinbase exchange,

The funds were sent to the platform to be sold, most likely. These three transactions together are worth $488,670,044.

ETHwhalesCoinbase_00qrgre45t
Image by Twitter

ETH, BTC plunge, here’s the main reason

The aforementioned weekly ETH price drop took place from Wednesday, Feb. 8, till today. The biggest plunge in two massive red candles was observed on Thursday as 5.15% of the ETH price was wiped out.

At the time of this writing, Ethereum is trading at $1,521 per token. It has followed the flagship cryptocurrency Bitcoin. BTC has also lost 4.64% since Thursday, falling from $22,748 to the $21,692 level.

The fall occurred due to the rise in the Consumer Price Index (CPI) in December. This rise increased the risk of inflation going higher, per some economists.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending