Minutes ago, a huge amount of Ethereum (ETH) worth more than half a billion dollars was transferred from an unknown altcoin wallet to the cryptocurrency exchange Binance, according to Whale Alert, a Twitter account that tracks large and interesting transactions on various blockchains.
Whale Alert reports that 273,781 ETH (corresponding to $504,986,096 at the time of this writing) was moved to Binance from an unidentified source at approximately 5:10 PM.
Ethereum is the second largest cryptocurrency by market cap after Bitcoin and has seen a surge in popularity and adoption recently. Ethereum is also a platform for many decentralized applications (DApps) and smart contracts, enabling a variety of use cases such as decentralized finance (DeFi), non-fungible tokens (NFTs), gaming and more.
*Not investment advice.