Blockchain tracking platform Whale Alert has recorded six consecutive Ethereum transactions, each involving slightly over $100 million worth of the cryptocurrency. These transfers were all executed within a one-hour window, as per data from the on-chain source.
Whale Alert identified these substantial cryptocurrency transfers, each consisting of about 27,970 ETH. With each transaction estimated to be valued between $100.5 million and $100.7 million, the full sum of these transfers comes to approximately 168,000 ETH, which equates to around $603,385,283 at the time of writing.
All these transactions were made between anonymous blockchain addresses. The movement of such large amounts of Ethereum took place during a surge in the price of the cryptocurrency. Ethereum, the second largest cryptocurrency by market capitalization, saw its price increase by nearly 6% from $3,430 to $3,628. A slight decrease of around 1.5% followed this jump, and the cryptocurrency is currently trading at $3,575.
In other cryptocurrency news, Chinese journalist and blogger Colin Wu has reported that on January 3, Ethereum exchange-traded funds (ETFs) saw a net inflow of $58.78 million. The largest contributor to this was the BlackRock’s ETHA fund, which saw an influx of $33.88 million in a single day. The total inflows for the BlackRock Ethereum ETF have now reached $3,559 billion.
Despite this success with Ethereum, BlackRock’s Bitcoin spot ETF, IBIT, experienced its largest single-day outflow since its inception, with $332.6 million or approximately 3,413 BTC leaving the fund. This is a larger outflow than the previous record set on December 24, when the fund lost 1,933 BTC equivalent to $188.7 million.
This significant outflow of Bitcoin from BlackRock’s fund has attracted criticism from renowned Bitcoin investor Robert Kiyosaki, who accused the fund and its CEO, Larry Fink, of keeping Bitcoin’s price below $100,000, thereby allowing large-scale investors to buy the cryptocurrency at a reduced value. Kiyosaki’s comments have drawn widespread attention, particularly among users of the X app, who have reacted strongly to the massive outflows of Bitcoin from BlackRock’s fund.
The recent movements in the cryptocurrency market highlight the volatility and unpredictability of these digital assets. As the market continues to evolve, further large-scale transactions and sudden price shifts are expected to be key features of the cryptocurrency landscape.
