Ethereum whales get busy as transactions hit highest point since January

Ethereum whales get busy as transactions hit highest point since January


Despite widespread losses being posted throughout the crypto market, Ethereum whales have been busy buying and selling Ether (ETH) at a rate not seen since January this year.

According to data from Santiment, Ethereum whales made a total of 2,956 transactions, each valued at over $1M on Wednesday, marking the highest day of whale transactions in nearly 5 months. Santiment clarified that whales are typically defined as any account holding between $1M to $10M.

#Ethereum‘s whales have been extremely active today, firing off 2,596 transactions valued at $1M or more. This is the highest day of whale transactions since January, and something to monitor if $ETH drops below $2k for the first time since last July. https://t.co/FZoTsFJwEn pic.twitter.com/MVFEpzysxN

— Santiment (@santimentfeed) May 11, 2022

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