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Ethereum Whale Transfers Over 25,000 ETH To Exchange: Massive Dip On The Horizon?
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ethereum Whale Transfers Over 25,000 ETH To Exchange: Massive Dip On The Horizon?

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Ethereum Whale

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Ethereum’s price seems to have been following Bitcoin’s, but recent large transactions suggest it may soon move independently.

Whale Alert reported a sum of 25,264 ETH, roughly valued at around $48 million, was moved from an unidentified wallet to the leading cryptocurrency exchange, Coinbase.

🚨 🚨 25,264 #ETH (48,302,924 USD) transferred from unknown wallet to #Coinbasehttps://t.co/ViF7z23ixe

— Whale Alert (@whale_alert) July 6, 2023

Analyzing The Potential Impact

While these large transfers can, on occasion, herald an upcoming uptrend, they can also imply a short-term surge in volatility. Particularly, such movements can be used to discern possible price sentiment changes.

Related Reading

Ethereum (ETH)

Ethereum Continues Uptrend As Staked ETH Soars To New High

1 year ago

In addition to the 25,264 ETH transferred, another substantial transaction of 30,000 ETH was also noted. This amount was relocated from an anonymous wallet to OKEX, another prominent crypto exchange. 

🚨 🚨 🚨 30,000 #ETH (57,687,950 USD) transferred from unknown wallet to #OKExhttps://t.co/ENxRwsJMLh

— Whale Alert (@whale_alert) July 6, 2023

Notably, as with any financial market, the crypto industry is impacted by many factors, with ‘whale’ movements being just one of them. While they can potentially influence price sentiment, other elements, such as broader market trends, global economic indicators, and investor sentiment, should also be considered for a holistic market understanding.

Ethereum Latest Price Action

Thiese Ethereum transactions come at a time when ETH has been trading between an intra-day high of $1,957.35 and an intra-day low of $1,872.94. At the time of writing, Ethereum has only seen a slight decline of 1.4% in the past day, with a market price of $1,884.

Ethereum (ETH)’s price chart on TradingView
Ethereum (ETH)’s price is moving sideways on the 4-Hour chart. Source: ETH/USD on TradingView.com

This modest plunge indicates whales might not have moved or sold just a small amount of the ETH deposited. Notably, a ‘whale’ in cryptocurrency refers to an individual or entity holding a large amount of a cryptocurrency.

This individual or entity has the potential to influence the market due to the sizeable volume of its holdings. When such transfers occur, they can create waves in the market and often signal potential price shifts.

Related Reading

Ethereum Price

Ethereum Price Retests Uptrend Support But Can Bulls Save The Day

1 year ago

Over the past week, Ethereum has seen more than a $3 billion surge in its market capitalization. The second largest asset by market cap has surged from the $223 billion seen last Thursday to $226 billion. ETH’s daily trading volume has also surged significantly in the same period.

Ethereum’s daily trading volume has soared from $6 billion last week to above $12 billion over the past 24 hours.

Featured image from Shutterstock, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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