In a significant development in the cryptocurrency market, two Ethereum (ETH) whales have deposited a significant amount of tokens into cryptocurrency exchange Binance.
First, whale 0xAA1 transferred 8,000 ETH, equivalent to $13.3 million, to Binance when the ETH price was $1,666. This whale currently holds 10,903 ETH, worth approximately $18 million.
Remarkably, the whale in question, 0xAA1, has received 64,065K ETH ($119.6 million) from CZSamsun's address 0x902 since its creation six months ago.
In its transactions over the past month, this whale purchased 3,028 ETH with 5 million DAI on August 22 at an average price of $1,651, and then deposited a total of 12,001 ETH to Binance on August 29-31 at an average price of $1.67 ($20 million).
The second whale, known as 0x2Eb, deposited 6,000 ETH ($9.95 million) to Kraken at a price of $1,658. This whale currently has 49,070 ETH ($80.8 million).
Whale 0x2Eb was an early user of Ethereum and received a total of 146,089 ETH at the ETH ICO price of $0.31 in 2015. This whale also accumulated 58,948 ETH from Kraken at cheap prices between October 2015 and April 2016.
However, it is observed that the impact of whales on the ETH price is minimal. ETH, which rose to $1,665 during the day, is trading at $1,638 at the time of writing this article.
*This is not investment advice.