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Whales Transfer More than $450 Million in ETH from Top Exchanges as ETH Balance is Low on Major Platforms

The major crypto exchanges have seen a transfer of more than 367,382 ETH by crypto whales. Exchanges have happened on anonymous wallets as the ETH balance on major exchanges is low on almost all major platforms. 

A news article on utoday claimed that major crypto exchanges had seen a shift of more than 367,382 ETH by crypto whales. Whale alert crypto tracker data showed that a significant amount of ETH had been transferred from Bitfinex, Binance, and the like.

They totaled to 367,382 coins in all. Ethereum is striving to keep its ATH mark at the moment. The reports show that the balance of ETH is now at an all-time low in more than 14 months. With 367,382 coins transferred that were valued at $451. 

2Rich2Miss is a podcast that conducts relevant rich conversations about the cryptocurrency industry, personal finance, & a balanced mindset had this to tweet about Whales moving $451.3 million in ETH from the top exchanges. 

Top exchanges like Bitfinex, Binance, and smaller platforms saw transfers mostly shifted large ETH lumps from one anonymous address to another. This caused the ETH rate to plummet. According to a glassnode analytics team, users have been actively buying or withdrawing the ETH from these exchanges. 

The team also mentioned that the second largest cryptocurrency balance is at a 15 month low as of today. Crypto trading highlights that they stand at 15,423,305.652 ETH. The second-largest cryptocurrency wants to recover from the ATH mark. 

ETH reached a new 15 months low of $1,448 per coin. However, ETH has managed to gain some lost ground back at $1,227 for now. The second-largest cryptocurrency is making amends to recover from the new ATH and move ahead of it. 

Traders and investors alike hope that the sudden transfer will be buoyed by the purchase of ETH at a later on stage. The second-largest cryptocurrency stands to make amends sooner or later with trade-ins and halt the transfer from one anonymous address to another.

The major platforms Bitfinex, Binance, and the smaller platforms, can see developments in the coming week with the weekend in.

Related Article  Crypto Whales are in no mood to settle even in volatile situations

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