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    Home»News»Inactive Whale Accounts Transfers Nearly $30M Worth of ETH 
    News

    Inactive Whale Accounts Transfers Nearly $30M Worth of ETH 

    Anietie DavidBy Anietie DavidDecember 19, 2022Updated:December 19, 20221 Comment2 Mins Read
    Inactive Whale Accounts Transfers Nearly $30M Worth of ETH 
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    Large amounts of Ethereum are on the move as previously inactive whale accounts wake from a five-year slumber. Two whale wallets moved $27M worth of ETH.

    According to the on-chain monitoring Twitter feed “Lookonchain,” two inactive Ethereum addresses have begun to exhibit activity as of December 19.

    The addresses came back to life on December 18 after being inactive for five years. Outgoing transfers from the whale addresses totaled 22,983 ETH in two transactions. The transactions were worth more than $27 million in today’s dollars. Other experts said that it went to new wallets and hasn’t left yet.

    There are 2 addresses that have been dormant for 5 years woke up 13 hours ago and transferred 22,983 $ETH($27.34M) out.https://t.co/sVyDLL4wi1https://t.co/FDpiOoRyZg pic.twitter.com/P87c7daIIg

    — Lookonchain (@lookonchain) December 19, 2022

    It was difficult to tell what the transactions were for or who the ETH whales were because information was scarce.

    Furthermore, Ethereum is not solely being moved by these whales. Additionally, according to Lookonchain, Three Arrows Capital (3AC) traded a significant amount of ETH on December 19. A total of $2.38 million worth of 2,000 ETH were taken out of Binance today. It also mentioned that there are still 6,595 ETH worth about $7.85 million in the 3AC address.

    Three Arrows Capital withdrew 2,000 $ETH ($2.38M) from #Binance just now.

    This address holds 6,595 $ETH ($7.85M) now.

    Join our telegram group to receive alerts.https://t.co/BslhSwv9ZFhttps://t.co/S6ewknpNu7 pic.twitter.com/Ba9dlVJbFb

    — Lookonchain (@lookonchain) December 19, 2022

    On the Whale Alert tracker, the most recent significant ETH transfer occurred yesterday when 23,758 ETH worth $28 million were transferred from Bitfinex to an unidentified wallet.

    Ethereum Set For More Developments in 2023

    Ethereum will see some significant developments in 2023. The early half of the year will see the introduction of staking withdrawals. However, if investors need to sell the item in a hurry, this might further drive prices downward.

    On the Beacon Chain, 15.66 million ETH are presently staked. This is worth about $18.5 billion at the present pricing. Additionally, recent Ethereum supply has been rather minimal.

    The implementation of proto-danksharding with EIP-4844 is another improvement. Rollup costs will be decreased ten to one hundred times as a result, although this won’t happen until the second part of the year.

    Blockchain Crypto Wallets Cryptocurrency Ethereum
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    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

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