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103,124 ETH Deposited to Exchanges in Just 10 Minutes Before Ethereum Plunged to $3,840

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Recent analytics data shows that a whopping $410 million in Ethereum was sent to crypto exchanges in merely ten minutes; one exchange in particular was involved

An Ethereum chart provided by Glassnode on May 12 demonstrates that a mind-blowing batch of 103,124 ETH was recently sent to crypto exchanges in only a ten-minute period.

This happened shortly before the second-largest digital currency plunged below the $3,900 level, as CoinMarketCap shows.

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$410 million in ETH moved to crypto exchanges

A Glassnode chart shared by the Moskovski Capital CIO shows that a whale transferred a staggering $410,663,486 worth of Ethereum to trading platforms—to OKEx in particular, details reveal.

When the tweet was published, this ETH amount was worth $10 million more.

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Image via Twitter

Soon after the crypto was moved, the second-biggest digital currency plunged from the $4,172 level to the $3,966 zone.

After that, another decline in price took place as ETH dropped to $3,840 after posting a short rise to the $4,164 mark.

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In a comment to the post, Lex Moskovski added some details of what happened. As per Moskovski, this could have either been a shuffling of funds made by OKEx, or the second option is spoofing.

ETH active addresses soar to a new ATH

In another tweet, the same analyst shared one more Glassnode chart. It reveals that the number of active ETH addresses had reached a new historic peak of almost 800,000.

Even with the current Dogecoin trend surging in popularity, this is still an impressive milestone, Lex Moskovski comments.

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At press time, the second-biggest digital currency, ETH, is exchanging hands at $3,958, according to data from CoinMarketCap.

Ethereum hits a new ATH

On March 12, Ethereum’s native crypto, ETH, spiked to hit a new historic peak of $4,362, according to CoinMarketCap.

On the same day, also, the total value of ETH locked in the ETH 2.0 deposit contract for staking reached an all-time high of $18,863,639,976.50.

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That is 4,822,202 Ethers at the current exchange rate.

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