Thu. 25 Nov 2021, 2:29pm ETBenzinga
In: Cryptocurrency, Markets, Movers, Trading Ideas

What happened: $52,710,621.00 worth of Ethereum (CRYPTO: ETH) was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person's Ethereum wallet address has been identified as: 0x01acb72a6acebbd83849f3d5b4d08aeaad786770

$52 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x0eff1328785b68ae41fb2e7617de980a53ba49cf

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 141,753.00 Ethereum wallets with over $100,000 in ETH.

See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers

Price Action: Ethereum is up 6% 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.