Whales are suddenly moving hundreds of thousands of Ethereum (ETH) as the crypto markets witness a serious sell-off.
Blockchain surveying service Whale Alert saw a series of Ethereum transactions accounted for 353,579 ETH and worth nearly $400 million.
One of the biggest trades of the past day involved a big-pocketed investor who abruptly moved 149,999 ETH worth $276.16 million from a wallet of unknown origin to US-based crypto exchange Coinbase.
? ? ? ? ? ? ? ? ? ? 149,999 #ETH (276,161,338 USD) transferred from unknown wallet to #Coinbasehttps://t.co/ETQxsjeoby
— Whale Alert (@whale_alert) June 5, 2023
Whale Alert shows that the crypto whale paid about $3 in transaction fees to move the huge Ethereum stack.
Also another entity moved 149,999 ETH worth $276.16 million from an unknown wallet to Coinbase. The crypto whale paid just over $3 for the transfer.
Whale Alert also reports three other large Ethereum transactions that saw tens of thousands of ETH moved from unknown wallets to Coinbase.
Since all of the ETH mentioned have been moved to a crypto exchange, they may be able to be sold on the open market.
At the time of writing, Ethereum is trading at USD 1,809, down almost 4% in the past 24 hours.
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