Ethereum

Impact

when

<ul>
  
 <li>A large number of large transfers of $154 million in ETH to OKX were made by a crypto whale.</li>   
 <li>Because of the possible influence on Ethereum's market, the whale's activities are constantly watched.</li>   
 <li>The whale indicates that the selling may soon come to an end by holding about 16,000 ETH, which is worth $42.6 million.</li> 
</ul>   
<p>A major shareholder just sent $154 million worth of Ethereum to the OKX <a href="https://cryptonewsland.com/darknet-marketplace-targeted-irish-authorities-seize-7-1m-in-crypto/" target="_blank" rel="noreferrer noopener">marketplace</a>. This recent transfer, involving 5,000 ETH, has grasped the attention of the crypto community. People are paying close attention because it could influence the coin’s market.</p>   
<h2 class="wp-block-heading" id="h-strategic-ethereum-transfers">Strategic Ethereum Transfers</h2>   
<p>The whale started their deposits on July 8 with a small 1 ETH transaction to confirm the correct deposit address. After this, they made larger transfers ranging from 1,000 to 5,000 ETH, totaling $154 million over 35 days. Each of these transactions was made at an average price of $3,176 per ETH.</p>   
<p>The whale’s address is linked to Ethereum’s initial coin offering (ICO), suggesting they acquired 1 million ETH during that time. The timing and size of these deposits have caught the attention of many in the market.</p>   
<h2 class="wp-block-heading" id="h-market-reactions-and-changes">Market Reactions and Changes</h2>   
<p>These transactions happened when gas fees on the Ethereum network were lower, which also saw reduced levels of Ether being burned. With gas fees between 1 and 2 gwei, the network’s inflation rate increased, causing concern among investors about Ethereum’s appeal in the short term.</p>   
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   https://twitter.com/lookonchain/status/1822894740381257965 
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</figure>   
<p>The whale still holds around 16,000 ETH, worth approximately $42.6 million, signaling that their selling might be close to ending. These moves have led to different reactions within the crypto community.</p>   
<p>On the same day as the latest deposit, another whale added 5,000 ETH worth $12.8 million to their holdings. This whale had previously bought ETH at $2,100 and sold it at $3,100. This parallel activity raises the question: Is there a larger strategy behind these whale moves?</p>   
<h2 class="wp-block-heading" id="h-broader-market-impact">Broader Market Impact</h2>   
<p>These whale actions are part of larger trends in the <a href="https://cryptonewsland.com/from-early-ethereum-gains-to-blockdags-future-a-software-engineers-journey-from-1000-to-2-million/" target="_blank" rel="noreferrer noopener">Ethereum </a>market, especially concerning Ether ETFs. On August 9, Ether ETFs saw net outflows of $15.8 million. BlackRock’s ETHA ETF had inflows of $19.6 million, while Grayscale’s ETHE ETF saw outflows of $41.4 million. These contrasting movements add to the complexity of the market.</p> 
<p>The post <a href="https://cryptonewsland.com/ethereum-whale-moves-154m-to-okx-amid-market-shifts/">Ethereum Whale Moves $154M to OKX Amid Market Shifts</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Ethereum Whale Moves $154M to OKX Amid Market Shifts

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