Ethereum whales move $357 million in a matter of minutes

On March 12, three whales, within a span of a few minutes, moved a total of 244,148 ETH (~$357 million at the time of the transactions).

According to data from analytics service Whale Alert, the first user sent 120,874 ETH worth more than $177 million to an unknown address. 

? ? ? ? ? ? ? ? 120,874 #ETH (177,177,677 USD) transferred from unknown wallet to unknown wallethttps://t.co/GJaJ3Cp8y6

— Whale Alert (@whale_alert) March 12, 2023

The second whale moved 96,638 ETH (over $141 million) to an unidentified address.

? ? ? ? ? ? 96,638 #ETH (141,817,476 USD) transferred from unknown wallet to unknown wallethttps://t.co/NKfMeIqMVH

— Whale Alert (@whale_alert) March 12, 2023

A third unidentified investor directed 26,636 ETH (~$39 million) to the Coinbase cryptocurrency exchange.

? ? 26,636 #ETH (39,143,078 USD) transferred from unknown wallet to #Coinbasehttps://t.co/t7mCbBeGTt

— Whale Alert (@whale_alert) March 12, 2023

Whale Alert also recorded several large transactions in altcoins:

• 65,000,000 CRV (~$55 million) transferred to an unknown address;
• 20,000,000 CRV (~$17 million) transferred to the Aave lending protocol;
• 20,205,417 FRAX (~$19 million) transferred to the Frax protocol;
• 10,103,426 FRAX (~$9 million) also transferred to Frax;
• 537,352 SOL (~$10 million) transferred to the Coinbase exchange.

As of the end of October 2022, the whales’ share of Ethereum’s circulating supply reached 39%, and Bitcoin’s 11%.