Ethereum Whales Move $399M Before Market Crash, Net $378M Profit

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Citing Benzinga, two Ethereum whale investors, inactive for six years, reportedly moved 135,548 ETH, valued at $399 million, to Bitfinex just eight hours before a significant market crash on Sunday. These wallets originally acquired ETH at $153.65 on January 5, 2019, when their holdings were worth $20.8 million. If the entire stockpile was sold, the investors could have netted a profit of $378.3 million. This activity was part of a broader market trend, with large Ether transactions over $100,000 increasing by 72.35% in the last 24 hours. Over $320 million worth of Ether entered exchanges, indicating potential sell-offs. The market experienced a massive downturn, with Bitcoin falling below $92,000 and Ethereum reaching a nearly three-month low. Cryptocurrency liquidations exceeded $2 billion, marking the largest single-day liquidation event in market history.

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