Large amounts of Ethereum are moving from whale wallets

in large quantities Ethereum Previously dormant whale accounts have woken up from a five-year slumber.

On December 19, on-chain analysis Twitter feed ‘lukochain’ reports that two inactive Ethereum addresses have started showing activity.

The addresses have not been active for five years, but woke up on 18 December. Two transfers totaling 22,983 ETH were sent from the whale address. At current prices, the transfer was valued at over $27 million.

Other analysts pointed out that it went into fresh wallets and there has been no outflow so far.

Ethereum running

With details thin on the ground, it was unclear to whom the transfers pertained to or who the ETH whales were.

Furthermore, these whales are not the only ones moving Ethereum. Lukenchain also noted that Three Arrows Capital (3AC) moved a substantial portion of ETH on December 19. Today 2,000 ETH worth approximately $2.38 million was withdrawn from Binance. It says that the 3AC address still has 6,595 ETH worth about $7.85 million.

The most recent large ETH transfer on the Whale Alert tracker was yesterday when 23,758 ETH worth $28 million was moved. were taken From Bitfinex to the Unknown purse,

There are some big things in the pipeline for Ethereum in 2023. staking withdrawal Will be operational in the first half of the year. This could put further pressure on prices, however, if stakeholders need to sell assets in a hurry.

There are currently 15.66 million ETH at stake on the Beacon Chain. At current prices, its value has been estimated at around $18.5 billion. In addition, Ethereum issue, issue has also been low recently.

Another upgrade is the deployment of proto-dansharding with the EIP-4844. This will reduce the rollup fee by 10 to 100 times but is not expected until the second half of the year.

ETH Price Outlook

Unfortunately for investors, Ethereum price has taken another hit over the weekend. At press time ETH has declined from last week’s levels to $1,180.

ETH price 1 month chart by BeInCrypto
ETH/USD 1 month – BeInCrypto

Furthermore, the asset is down 8% over the past fortnight as the crypto markets stage another pullback. However, these swings have been minor, and Ethereum has remained range-bound since the collapse of FTX in early November.

ETH is currently down about 76% from its November 2021 all-time high of $4,878. According to Crypto Twitter, there are mixed feelings about where prices are headed next:

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