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Cryptocurrencies:  7,471Markets:  31,725Market Cap:  $373,335,373,53924h Vol:  $102,169,674,903BTC Dominance:  60.6%
Market Cap:  $373,335,373,53924h Vol:  $102,169,674,903BTC Dominance:  60.6%Cryptocurrencies:  7,471Markets:  31,725

Ethereum Whale Pushed ETH Prices to $450 on Uniswap

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Ethereum Whale Pushed ETH Prices to $450 on Uniswap

Crypto Briefing2 months ago
Published on August 11, 2020 01:12 GMT+0edited on August 11, 2020 01:24 GMT+0

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A single wallet address pushed up Ethereum prices on DeFi exchange Uniswap to just short of $450. The trade involved a series of swaps totaling $17.9 million USDT to purchase slightly over 40,000 ETH.

With ETH prices at about $400, the trade was valued at about $16 million⁠—equating to a loss of almost $2 million to slippage. The whale received the USDT from an address associated with cryptocurrency exchange Huobi. The ETH was then parceled out to several freshly minted addresses.