300,000 Ethereum Transfer Sparks Shock At Leading US Exchange

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,209,950,732,982	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,209,950,732,982

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	871.06	1.43%	61,703.49	61,703.48	61,703.49

Price Change

Price Change %

Current Price

Bid Price

Offer

871.06

1.43%

61,703.49

61,703.48

61,703.49

High Price	Low Price	Open Price	Prev. Close	52 Week Range
61,928.53	60,711.09	60,831.31	60,832.43	26,521.32 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

61,928.53

60,711.09

60,831.31

60,832.43

26,521.32 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	09:22:37	0.000012	61,703.49	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

09:22:37

0.000012

61,703.49

USD

Price x Volume	Volume	Base Symbol	Related Pairs
129,109,016.92	2,099.68	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

129,109,016.92

2,099.68

300,000 Ethereum Transfer Sparks Shock At Leading US Exchange

24/08/2024 4:30pm

NEWSBTC

In a new development that is creating ripples in the cryptocurrency space, Whale Alert, one of the top blockchain trackers, has detected two huge Ethereum (ETH) transfers heading to Coinbase. Each transfer involved 150,000 ETH, totaling a staggering 300,000 ETH at nearly $395 million. These transactions were carried out consecutively. Related Reading: Uniswap: Market Swing Yields 12% Gains – Can UNI Sustain The Momentum? Ethereum: Market Reaction And Speculation Big movements typically spark speculation. Large cryptocurrency flows into Coinbase mean the sender may be selling. Increasing availability could lower market prices. Despite Ethereum’s 3.25% 24-hour increase, huge transactions keep traders apprehensive. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 150,000 #ETH (395,363,754 USD) transferred from unknown wallet to #Coinbasehttps://t.co/F8H71z62uJ — Whale Alert (@whale_alert) August 23, 2024 Being so volatile, the cryptocurrency market easily goes with the whales’ sentiments. Now, add this to regulatory scrutiny and changing market conditions, and these transfers may further exacerbate already unstable price movements. Regulatory And Market Conditions These movements by big holders or whales add to the growing weight on the bitcoin scene caused by regulation. The same can be stated with regards changes in market mood and trading patterns; news on regulation can influence general market mood. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 150,000 #ETH (395,363,493 USD) transferred from unknown wallet to #Coinbasehttps://t.co/SNfIPLrUOJ — Whale Alert (@whale_alert) August 23, 2024 The addition of new regulations always brings some level of uncertainty, increasing the chances of market volatility. Traders and investors will be keeping a close eye on how these factors might affect the Ethereum price over the next few days More Whale Transactions And Price Action On the other hand, another whale has moved 19,999 ETH to the Binance exchange, which is worth approximately $52 million. As already mentioned, this layer upon layer strengthens the narrative of whale activity driving the market. Notably, one such whaleᅳwho held 96,639 ETH since September 2022ᅳenjoyed huge gains. Having purchased the ETH at $1,567 per coin, the whale was recently spotted offloading some at $3,199 for a net profit of a whopping $132 million. It is this kind of trading activity that underscores the overwhelming influence whales can have on the price of Ether. Related Reading: Celestia: Market Dip Leaves TIA Investors 16% In The Red Future price volatility may result from this, given the regulatory framework and possible sell-off. The virtual currency market has always been a very high-stakes game in which significant movements from a large holder cause massive waves. Featured image from WIRED, chart from TradingView

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