Anonymous Crypto Wallet Moves $88M Worth Of Ethereum

What happened: $88,087,714 worth of Ethereum ETH/USD was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person's Ethereum wallet address has been identified as: 0x71aed2a48f1aab417c29da83a14bccbe32f6c7a4

$88 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x1646224fc03be92f8ac684a1df23c6abf99d2ca5

Why it matters: Cryptocurrency whales that own millions of dollars in Ethereum tend to move markets single-handedly. If the whale decides to exit this Ethereum position, there could be enough market impact to push down the price of ETH. It takes about $15 to $30 million of sell pressure to move the price of Ethereum down 2% on any given exchange.

You can view more details about the transaction here

According to Glassnode, there are 74,976 Ethereum wallets with over $100,000 in ETH.

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Price Action: Ethereum is down -3% in the past 24 hours.

See Also: How To Buy Ethereum

Public Blockchain data sourced from Whale Alerts Twitter.

This article was generated by Benzinga's automated content engine and reviewed by an editor.