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Ethereum Whales Move Over $182 Million In Three Days

ETH

Some heavyweight investors on the blockchain have moved over 700,000 ETH within three days. Its value is estimated to be about $182 million.

In the early hours of Thursday, July 23, Santiment, a crypto analytic company, tweeted about the whale move. The tweet reads:

“Nearly 700K ETH were moved by top 100 whales in the past 3 days. Over this time, the combined balance of the top 100 non-exchange ETH addresses shrank by almost 700K ETH, or about $182.7M. This was likely pre-pump positioning & a forewarning of the pump.”

Coincidentally, the number of Ethereum moved occurred almost at the same time as a shrinkage occurred in non-exchange wallets. Santiment believes the whales are planning on trading the assets soon.

In the past few weeks, the ETH/BTC pair has enjoyed increasing popularity. This is mainly due to the massive growth in the DeFi sector. Ethereum also plans on releasing its much-anticipated Ethereum 2.0 protocol this year. According to its timeline, the final testnet will be launched in the first week of August.

Many analysts within the crypto community believe ETH will continue on its bullish course. Yesterday, Michaël van de Poppe tweeted that Ethereum is “undervalued”.

For the past one month, BTC was under $9,300 but this week, its bullish outlook is making the ETH/BTC pair desirable again.

Image Credits: Pixabay

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