Nearly 400K Ethereum Moved By Whales Amid ETH Price Dump

Ethereum (ETH), the world’s second largest crypto price dropped by more than 8% in the last 24 hours. However, this Ethereum price move has motivated the crypto whales to add more ETH to their holdings.

ETH price tanks; Crypto whales add

As per the Whale Alert data, Crypto whales have moved around 400K Ethereum from the crypto exchanges. More than $445 million worth of Ethereum was moved to multiple unknown wallets amid the price dump.

The data depicts that whales moved around 300k Ethereum (worth approx $333 million) from Upbit, a crypto exchange to different wallets. However, the biggest transaction recorded by the tracker has been of adding $129.1 million worth of ETH from the same exchange.

However, A whale accumulated 99.99K Ethereum from the Bitifinex crypto exchange. The transaction worthed around $112.4 million, data suggest.

This whale accumulation has come amid the massive Ethereum Price drop. ETH price is down by 12% in the last 7 days. ETH is trading at an average price of $1,128, at the press time. However, its 24 hour trading volume is up by a whopping 103% to stand at $11.9 billion. ETH’s market cap stands at around $137 billion.

ETH liquidation breaches $40 million

According to the Coinglass data, around 66,704 traders have liquidated more than $180 million from the crypto market in the last 24 hours. However, traders have moved out approx $40 million from Ethereum. 85% of these liquidations came in the long position.

The global crypto market cap dropped below the crucial $800 billion level. It now stands at $795 billion. Bitcoin prices have dropped by 4% in the last 24 hours. It is trading at an average price of $15,998, at the press time.

Coingape reported that the FTX hacker who stole $600 million from the collapsed exchange is rapidly converting the funds to Bitcoin. It mentioned that the hacker successfully converted all the stablecoins to ETH. The total accumulate Ethereum was valued around $288 billion.