Ethereum Wallet Transfers 81,760 ETH to Binance

[Cristiano]

Ethereum whales have started moving the world’s second-most valuable digital asset in substantial amounts amid market volatility. ETH touched a low of nearly $1,700 yesterday, the lowest level since March 2021.

According to the latest data posted by Whale Alert, the leading crypto analytics and blockchain tracking platform, a large Ethereum wallet moved 81,760 ETH from a digital wallet to cryptocurrency exchange Binance. According to the current price of Ethereum, the total value of the transaction stands at around $160 million.

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The mentioned transfer was executed on Tuesday 22 June at 14:02 UTC. The movement from the whale Ethereum account was highlighted by Etherescan. During the latest market volatility, the number of transfers by whale Ethereum addresses has increased significantly.

“Ethereum’s top 10 non-exchange whales continue to hold record levels of ETH and are even inching upward despite the dip below $1,900 Monday. Meanwhile, the top 10 exchange whale holdings keep declining, which implies less chance of further sell-offs,” crypto analytics firm Santiment mentioned on Twitter.

Santiment added that the top 10 Ethereum addresses are currently holding more than 19.5 million coins.

Ethereum 2.0
While ETH is currently facing a tough challenge in the form of a bearish crypto market, the deposit contract of Ethereum 2.0 is steadily attracting a large amount of ETH. According to Etherescan, the staking contract of Ethereum 2.0 (ETH’s network upgrade) now has more than 5.7 million coins with a total value of over $11.5 billion. The deposit contract of ETH 2.0 crossed 5 million ETH for the first time in May 2021. The latest surge in the staking number shows that the ETH community is fully supporting the upgrade from the current proof-of-work network to an improved proof-of-stake network.

As of writing, Ethereum is trading near $2,000 with a market cap of over $230 billion. The current market dominance of the world’s second-largest digital currency stands at around 17%, down from the recent high of more than 19% in May 2021.

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