Ethereum

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 A crypto whale wallet has transferred 5,000 ETH, valued at $13.2 million, to the OKX. 
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This move, flagged by blockchain analytics platform LookonChain in an X post on Monday, August 12, is part of a series of transactions by the same entity over the past month.
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 A whale who received 1M <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> in <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> ICO at a price of $0.31 deposited 5,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($13.2M) to <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#OKX</a> again 12 hours ago.
 This whale has deposited 48,500 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($154M) to <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#OKX</a> at an average price of $3,176 in the past month.<a href="https://t.co/4AN8voWrFE" rel="noopener noreferrer nofollow">https://t.co/4AN8voWrFE</a><a href="https://t.co/u1zjZ01Ez4" rel="noopener noreferrer nofollow">https://t.co/u1zjZ01Ez4</a> <a href="https://t.co/ZDsFCcFiTk" rel="noopener noreferrer nofollow">pic.twitter.com/ZDsFCcFiTk</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1822894740381257965?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 12, 2024</a>
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Prior to this large transfer, the whale deposited 1 ETH to OKX at an average price of $3,176.
Based on<a style="color: #0000ff;" href="https://etherscan.io/address/0xe17e2774c8b2453172fb3b44e9f822c718fa0ab7#internaltx" rel="noopener noreferrer nofollow"> data</a> from Etherscan, the address belongs to a whale who purchased $1 million worth of $ETH during the Ethereum Initial Coin Offering (ICO) and has reportedly about $154 million worth of ETH to OKX in the past 30 days.
Analysis suggests the whale’s remaining ETH holdings are around 16,000 ($42.6 million) across two wallets, indicating the sell-off may be nearing completion.
Interestingly, another whale added a similar amount (5,000 ETH, worth $12.8 million) to their portfolio on the same day.<a style="color: #0000ff;" href="https://x.com/0xscopescan/status/1822945847283474658?s=46" rel="noopener noreferrer nofollow"> Historical data</a> from Scopescan shows this whale’s previous purchase was at $2,100, with a sell at $3,100.
Notably, the whale’s latest transaction has spurred mixed reactions from the crypto community. One X user<a href="https://x.com/_TeeJJ_/status/1822911785240047990" rel="noopener noreferrer nofollow"> speculated</a> that the wallet could belong to Ethereum founders like Joseph Lubin, Anthony Di Iorio, or Vitalik Buterin. Some others<a style="color: #0000ff;" href="https://x.com/markxy_eth/status/1822910217404948667" rel="noopener noreferrer nofollow"> viewed</a> it as an opportune moment to sell, given ETH’s recent price rally.
Meanwhile, these whale activities followed a trading day when Ether ETFs experienced net losses of $15.8 million. BlackRock’s ETHA saw inflows of $19.6 million, while Grayscale’s ETHE had outflows of $41.4 million,<a style="color: #0000ff;" href="https://farside.co.uk/eth/" rel="noopener noreferrer nofollow"> according to Farside Investors’ data</a> from August 9.
These movements appear to significantly influence trading patterns and potentially impact Ethereum’s price in the short term.
As of press time, Ethereum is<a style="color: #0000ff;" href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow"> trading at $2,701.25</a>, a 3.31% increase in the last twenty-four hours.&nbsp;
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The post <a href="https://defi-planet.com/2024/08/crypto-whale-moves-5000-eth-worth-13-2m-to-okx-continuing-154m-sell-off/" rel="noopener noreferrer nofollow">Crypto Whale Moves 5,000 ETH Worth $13.2M to OKX, Continuing $154M Sell-Off</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Crypto Whale Moves 5,000 ETH Worth $13.2M to OKX, Continuing $154M Sell-Off

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