Ethereum Whale Abruptly Moves Over $145M In ETH: What Does That Mean For The Crypto?

According to Whale Alert data, an Ethereum ETH/USD whale has transferred about 100,000 ETH worth about $145.62 million from one anonymous wallet to another.

Whale Alert reports, that the tokens were moved on Sept. 16, one day after Ethereum transitioned to a proof-of-stake network.

Recently, the market intelligence firm Santiment mentioned that the leading smart contract platform’s network value to transaction (NVT) metric is in its best state in 16 months.

It also mentioned that over the past three months, top whale addresses had sent a significant amount of ETH onto exchanges. 

Also Read: Major Ethereum Whales Betting on Shiba Inu, Buy Up 105.7 Billion SHIB

Non-exchange addresses have declined 11%, while exchange-based addresses have surged by 78%.

Earlier last week, the exchange balance of Ethereum reached 21.96 million, the highest level in five months.

Also, an anonymous cryptocurrency wallet holding $69,500,418 of Ethereum transferred its funds onto Binance in the previous week. Abnormally large cryptocurrency transfers from wallets to exchanges are typically a bearish signal.

At the time of writing, ETH was trading at $1430.91, down almost 19% in the last seven days.