What happened: $58,694,570 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: 0xf3d0b270651dccfeddad41b42aa6d1876200117a
$58 million worth of Ethereum was sent to an unknown recipient, with Ethereum wallet address: 0x794d28ac31bcb136294761a556b68d2634094153
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.
According to Glassnode, there are 80,300 Ethereum wallets with over $100,000 in ETH.
Price Action: Ethereum is up 3% in the past 24 hours.
See Also: How To Buy Ethereum
Public Blockchain data sourced from Whale Alerts Twitter.
This article was generated by Benzinga's automated content engine and reviewed by an editor.