Ethereum

Bitcoin

April

Beacon

Ethereum (ETH), the second biggest crypto, is dealing with the high selling pressure which has led to an over 12% price drop in the last 30 days. As this decline continues, two massive transactions involving 10,911 Ether each were recently recorded. The transfer was made from unknown wallets to <a href="https://news.todayq.com/coinbase-throws-15-million-crypto-ad-blitz/" rel="noopener noreferrer nofollow">Coinbase</a>. These transactions are worth approx $33.99 million each. It has ignited speculation within the crypto community about its potential impact on the market. Ether whales make big move 
As per the data provided by WhaleAlert reported two large transactions were reported, each moving 10,911 ETH from an unknown wallet to Coinbase. These transactions occurred within 24 hours raising eyebrows due to their massive size.
It is important to note that this move took place during a period of increased volatility and uncertainty in the market. Ethereum price has dropped by more than 2% in the past 24 hours. ETH is trading at an average price of $3,151, at the press time. Its 24 hour trading volume is up by 20% to stand at $15 billion. It holds a market cap of $384 billion.
There are several theories have emerged in the market. Experts suggest that the transfers could be part of Coinbase’s internal funds management. They mentioned sending wallets has shown some interactions with Coinbase linked wallets. What do experts say? 
Some hints that ETH whales might be looking to capitalize on profits. They might be looking to reduce potential downside risks amid market uncertainty. Meanwhile, the transfers could be linked to institutional investors adjusting their portfolios.
The recent Bitcoin halving on April 20 has led to increased market volatility. This has affected Ethereum’s price action. Despite this, on-chain data suggests Ethereum node validators remain optimistic.&nbsp;
Data from the Ethereum Proof-of-Stake (PoS) Beacon Chain smart contracts shows a positive trend in staking deposits. On the day of the Bitcoin halving, staking deposits totaled 31.6 million ETH. Since then, an additional 300,000 ETH has been staked, bringing the total to 31.9 million ETH.

Mysterious Ether transfer worth $67M sparks speculation

Todayq News

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