Anonymous Crypto Wallet Moves $580M Worth Of Ethereum For A Fee Of $33

What happened: $579,638,839 worth of Ethereum (CRYPTO: ETH) was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person’s Ethereum wallet address has been identified as: 0xc6dcb7ac175636cbc3d5f32c68865c24ca7d74d4

$579,638,839 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x4109a9d7f736d5ce89ec4e1f5df8a3282c88e5c2

Why it matters: Cryptocurrency whales that own millions of dollars in Ethereum tend to move markets single-handedly. If the whale decides to exit this Ethereum position, there could be enough market impact to push down the price of ETH. It takes about $15 to $30 million of sell pressure to move the price of Ethereum down 2% on any given exchange.

You can view more details about the transaction here.

According to Glassnode, there are 26,866,158 Ethereum wallets with a balance of over 100,000 coins.

See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers

Price Action: Ethereum is down -5.66% in the past 24 hours.

See Also: How To Buy Ethereum

Public Blockchain data sourced from Whale Alerts Twitter.