Two unknown ETH whales separately moved 250,908 Ether coins worth about $92.993 million. It seems that large entities are showing more interest lately in moving the second most valuable crypto asset more frequently as Ether prices rebound.
Data from advanced crypto tracker, Whale Alert, showed that two unknown ETH whales separately moved 250,908 Ether coins worth about $92.993 million transferred from unknown wallets, a few hours ago.
The recent whale movements are triggered by the recent rebound in Ether prices. Ethereum’s price today is $358.66, with a daily trading volume of $5.3 billion.
It has a circulating supply of 110 million coins and a max supply of ? coins. It should also be noted that the recent rise of DeFi has exponentially amplified the rise of the whales.
Defi, in short, is the use of blockchain technologies (including smart contracts, decentralized asset custody, etc.) to replace all “intermediaries” with program codes, therefore maximizing the efficiency of financial services and minimizing costs.
These digital assets are designed on Ethereum codes, and usually exhibit characteristics that include having protocols and financial smart contracts.
