26,000 Ethereum (ETH) coins worth $7.08 million has just been moved from Gemini to an unknown wallet.
This is according to a new alert by whale watching account, Whale Alert. There is no specific reason why the coins were moved neither has the true identity of the receiver divulged.
Ethereum (ETH) is up 118% this year
Ethereum (ETH) at the time of press is leading in the top 10, adding an impressive 11% and pushing this year’s gains to triple digits.
Gemini describes itself as a fully regulated exchange and is backed by the Winklevoss twins who are millionaires. The twins are serial investors and were one of the few early adopters of Bitcoin.
With a great fortune from their savvy investments, they continue to build supportive infrastructure, agitate for regulator compliance, and remain upbeat of Bitcoin and crypto prices.
In the wave of heavy losses related to hacks and blatant theft, the exchange said it would insure against digital asset losses to the tune of $200 million.
To reach more clients, it has announced plans of expanding to Asia and Europe. They have also integrated Trading View.
Investing in Bitcoin is being an early adopter
As the market began printing higher high, Cameron Winklevoss said it is still time to an early adopter since there are only 21 million Bitcoin in circulation.
Already, over 18 million have been mined and circulating, while the three million would be distributed until the last coin is mined sometimes in 2140.
“There are less Bitcoin (21 million) than there are millionaires in the world today (~36 million). It will pay to be an early Bitcoin adopter.”
There are less bitcoin (21 million) than there are millionaires in the world today (~36 million). It will pay to be an early bitcoin adopter.
— Cameron Winklevoss (@winklevoss) February 5, 2020
Support of other coins including ChainLink
Aside from their belief in the store of value currency, they are also supportive of other projects including Tezos, which like ETH continues to explode, more than doubling in three months.
The regulated exchange has also listed ChainLink, Orchid, Golem, Storj, and Numeraire.
Something to ponder: $Link was the 1st ERC677/ERC20 token which was available to NY-based investors via Coinbase;
— CRYPTO (@Fac3less_Man) February 11, 2020
This expands the options available for their clients and institutional grade investors who are attracted to the exchange’s high-level compliance.
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Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich