Massive Crypto Whales Are Back in Business, Analyst Expects Major Movements

earlier this month, data provided by the blockchain analysis firm CryptoQuant shows that Ethereum whale investors have been influencing the asset’s price for a long time now.could manipulate ETH’s price by depositing the token onto exchanges and selling at certain points while the prices are elevated.On Oct. 30, a huge Ethereum whale transferred 19,999.

9985 ETH — worth roughly $31.6 million at the time of writing — to the largest crypto exchange by trading volume, Binance, according to EtherscanSimilar whale movements could possibly show signs of another bearish market trend. Another reason for whales to move massive amounts of crypto assets to centralized exchanges might be that they are looking for liquidity.

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