Ethereum: $23.8M ETH Move From Unknown Wallet to Exchange

Data from Whale Alert suggested an unknown wallet had transferred a considerable amount of Ethereum (ETH), totaling 15,000, to crypto exchange OKEx recently. With a value of approximately $23.8 million, questions began surfacing in the crypto community regarding the origin of the tokens – ICO (Initial Coin Offering) era or purchased later. Speculations began that the wallet might belong to OKEx or an ETH whale seeking to secure profits. An additional observation revealed ETH addresses with minimum 100 coins had hit a 10-month low of 45,640. Additionally, reason behind this decline was linked to the spring season in March.

Justin Bons, CIO of Cyber Capital, was convinced about the strength and decentralization that Ethereum (ETH) provides due to its diverse clientele. With over thousands of nodes using a variety of different software, any bug related issues were more difficult to occur. However, his perception was challenged later post the merged consensus when few companies monopolized a large portion of ETH staking – notably Lido observing maximum authority. At the time of writing, ETH rested close to the $1,600 region, gaining a marginal 1.1%.

Robert Wilson author
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