17,581 ETH Worth $53,456,915 USD Transferred to Unknown Wallet

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  • Ethereum has been up 3% in the past day.
  • The ETH team has ambitious intentions to lower the energy required for crypto mining.

Amidst a market decline, some investors may worry whether they’ve lost out on the opportunity to invest in Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies as more and more institutional investors buy-in. The Ethereum team has ambitious intentions to lower the energy required for crypto mining. By transitioning from PoW to PoS consensus, the business expects to reduce Ether mining’s huge energy consumption by 99.95%—developers call this ‘The Merge.’

Despite certain financial markets being closed for the holiday weekend, Ethereum was still trading at its support level of $3,000 on Good Friday. Consequently, volatility has decreased marginally, with BTC trading around its floor of $40,000 at the time of writing.

Whales Back in Action

In its databases, Whale Alert compiles all of the transactions from various blockchains, analyses them, and then saves them in a uniform style. Thousands of known individual addresses, exchanges, and addresses are stored in these databases, which are regularly updated using artificial intelligence (AI).

An anonymous whale has sent 17,581 ETH to an unknown wallet. An analytics and surveillance business called Whale Alert also said that the deal was valued at $53,456,915 USD. ETH transfers at hundreds of millions of dollars every night show that the crypto whales are back in business. According to Whale Alert data, the transaction occurred on Sat, 16 Apr 2022, 05:59:58 UTC. On the other hand, ETH has been up 3% in the past day.

According to CoinMarketCap, the Ethereum price today is $3,039.66 USD, with a 24-hour trading volume of $9,719,803,305 USD.

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