A short time after falling asleep, an ETH whale, or huge holder who has massive amounts of Ethereum, awoke and sold a sizable percentage of its tokens, according to on-chain analytics service Lookonchain.
A snapshot of etherscan that Lookonchain uploaded shows that the whale most recently sent precisely 2,913 ETH tokens to the Kraken cryptocurrency exchange 748 days ago.
The aforementioned whale, who has been dormant for the previous two years, made an unexpected deposit into Binance’s cryptocurrency exchange of 6,087 ETH valued $10.4 million.
A common motive for moving cryptocurrency assets to exchanges is to sell them. The whale’s motivation or purpose are yet unknown.
According to Lookonchain, the whale is still holding a large quantity of ETH, which may have been held under the belief that prices will rise in the future.
The price of ETH may be impacted if the SEC approves an Ethereum spot ETF, which is currently up for debate. The aforementioned whale currently has 6,000 ETH, worth $10.23 million.
As of the time of writing, ETH had lost gains earned days earlier with the announcement of Grayscale’s victory in the SEC case, and it had slightly decreased over the previous day to reach $1,706.
Robinhood enables in-app Ethereum swaps
The stock trading software Robinhood has some exciting news for the cryptocurrency world. It is also enabling in-app swaps on the Ethereum network in addition to the release of custody, transmit, and receive support capabilities for Bitcoin and Dogecoin.
In-app Ethereum exchanges for more than 200 tokens have reportedly started to roll out to certain users and will become available to everyone in the upcoming weeks, according to a blog post.
It is now possible for users to exchange without having Ethereum, and network costs are immediately deducted from the tokens they already own, making it simpler for everyone to use DeFi.
