Lookonchain, an on-chain data analysis platform that shares up-to-date information on large-scale cryptocurrency transfers carried out by addresses known as “whales” in the crypto ecosystem, has revealed the current data on more than 57,000 ETH transfers made by an Ethereum whale since June 8th.
Ethereum (ETH) Falls Below $2000 Again
The cryptocurrency market, which started a strong rally during the week due to the historic ruling in the Ripple case, experienced a decline again in the morning hours. The leading cryptocurrency Bitcoin (BTC) started trading at around $30,300, accompanied by its recent losses, despite surpassing critical resistance levels during the week. According to CoinMarketCap data, the total market value of the crypto ecosystem decreased to $1.22 trillion.
Meanwhile, Ethereum (ETH), which started a strong rally by surpassing the $2000 resistance level during the week, also experienced a decline as the cryptocurrency market showed a downward trend and accelerated its losses during the day. ETH started trading at around $1935, recording a loss of over 3% in the last 24 hours.
Are Ethereum Whales Getting Ready for a New Rally?
As the cryptocurrency market experienced another decline, ETH retreated to critical price levels during the day. Lookonchain, an on-chain data analysis platform, drew attention to the ETH transfers made by an Ethereum whale since June. According to the data shared by Lookonchain, the Ethereum whale withdrew an additional 7,000 ETH worth an average of $13.2 million from the cryptocurrency exchange Binance this week.
Accordingly, according to Lookonchain data, this Ethereum whale has withdrawn a total of 57,100 ETH worth a total of approximately $108 million from the cryptocurrency exchange Binance since June 8th.
