Deep-pocketed Ethereum (ETH) investors are shifting over a hundred million dollars worth of ETH into prominent crypto exchange platforms.
New data from Whale Alert, a platform dedicated to tracking crypto whale activity, finds that high-net-worth ETH investors have moved nearly $140,000,000 worth of the leading smart contract platform into Coinbase, Kraken, and OKX.
In one instance, a whale moved 20,000 ETH, worth just above $38 million, from layer-2 scaling solution Arbitrum (ARB) to Kraken, a San Francisco-based crypto exchange.
Another instance saw one high-net-worth trader transfer 25,264 ETH, worth approximately $48.3 million, from an unknown wallet to Coinbase, the largest US-based crypto exchange platform by volume.
The third occurrence saw a crypto whale reposition 30,000 Ethereum, worth about $57.7 million, from an unknown wallet to OKX, a Seychelles-based crypto exchange.
Earlier this month, data from blockchain tracking firm Lookonchain revealed that an ETH whale withdrew over $91 million worth of the top altcoin from Binance, the world’s largest crypto exchange platform by volume, since June 8th.
Furthermore, the data shows that the deep-pocketed trader also staked about $65 million worth of Ethereum.
“The whale has withdrawn 50,100 ETH ($91.2 million) from Binance since June 8 and staked 34,560 ETH ($65 million).”
Ethereum is trading for $1,889 at time of writing, a 1.14% decrease during the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: ClipDrop
Credit: Source link
