An Ethereum whale is moving a virtual mountain of the second largest asset by market cap amid a sharp market-wide correction.
On Thursday, just a day after Ethereum crashed to the low $2,000 range, on-chain tracker Whale Alert picked up on a large ETH transaction, which sent 130,000 ETH or roughly $359,679,594 million from an unknown wallet to another unknown wallet.
The sending address still holds over $25 million worth of Ethereum (ETH) in its wallet and over $300 million worth of other ERC20 tokens. The sending whale also received almost 70,000 ETH worth almost $200 million just a few hours before sending away a vast portion of its Ethereum trove.
The original wallet’s top holdings are decentralized finance (DeFi) assets Eth-wrapped Compound (COMP), Synthetix (SNX) and Compound UNI (CUNI).
Ethereum, like most of the crypto market, has lost much of its value in the past week, dropping from a seven-day high of $4,143 to a low of $2,212, according to CoinGecko.
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