Whales are suddenly moving more than $2.2 billion in Ethereum (ETH) this week across 11 separate transactions, according to the crypto tracker Whale Alert.
The moves come as ETH’s price surges and Ethereum miner balances continue to skyrocket, blockchain analytics firm Santiment reports.
“#Ethereum is up to $3,480, the coin’s highest price in 16 days. Notably, miner balances have continued to skyrocket.
532.75k $ETH is the largest balance held by miners since July 13, 2016. The value of these coins is $1.85B, easily an #AllTimeHigh.”
ETH is trading $3,588.59 at time of writing and is up more than 28% in the past week, according to CoinGecko.
Whale Alert notes that in the largest of the tracked transactions, an unknown wallet