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News - Whales send 72,000 ETH to exchanges
Two Ethereum whales have become active in the past 24 hours. They have sent a total of US$112 million to centralized exchanges. This reports the portal Whale Alert. This movement may indicate a sell-off. However, it could also simply be a restructuring of finances.
🚨 🚨 🚨 🚨 50,000 #ETH (78,307,428 USD) transferred from unknown wallet to #Krakenhttps://t.co/nsSDK9iTU2
— Whale Alert (@whale_alert) October 11, 2023
One whale sent 50,000 Ethereum (about US$78 million) to Kraken. Another whale sent about 22,000 Ethereum (nearly US$35 million) to Coinbase. whales are entities that own very large amounts of coins (about 1,000 for Bitcoin). Their power allows them to greatly influence markets.
Ethereum is currently facing a lot of controversy over the increasing centralization of the network, especially by the Lido provider. The price of Ethereum at the time of writing is about US$1,500.
