$ 20,466.00
$ 1,171.15
$ 0.999694
$ 0.463549
$ 0.329626
$ 1.00

Ethereum Transfer to the Kraken Exchange from Wallet Worth $6 Billion

North of 1 million Ethereum amounting to $6 billion have been transferred from an anonymous wallet to the Kraken exchange.

While $6 billion has been transferred from an anonymous wallet to the Kraken exchange, there is no cause for hysteria. 

More than 1.25 million Ethereum (ETH) were transacted from an anonymous wallet to the Kraken controlled exchange, according to the Whale Alert transaction monitoring bot, which erupted earlier today. 

Increased fund inflows, which have been occurring for two months now, account for the significant volume. Because of the market’s strong bull run and Ethereum (ETH)’s deflationary route, users are still withdrawing funds from exchange platforms.

The exchange will introduce funds that market makers will utilize to create ample liquidity. The amount being followed is almost 40% of the current daily trading volume, meaning that a considerable dive of Ethereum (ETH) is to be expected if their funds are used for selling.

Cold wallets are used by exchanges to keep the assets of their users safe and not let them be vulnerable to exploitation or stealing. Some of the cash stays in the exchange’s hot wallets, ready to be spent on demand. Because assets are stored on a device that is not always linked to the network, cold wallets offer greater security in exchange for the inability to have instant access to the funds.

Also read: Hopes for Shiba Inu (SHIB) to Gain Momentum After Potential Kraken Listing

Also read:

Related News

Meta Continues With Its NFT Plans

Meta stated that its other cryptocurrency initiatives are proceeding according to schedule after announcing the end of its Novi project. Non-fungible tokens (NFT) have been developing for a while by the company. The Novi initiative, which enables remittances and international money transfers, will shortly be shut down, the company announced recently. According to the company, the project will no longer operate as of September 1. Users of Novi were informed

Read More »

Bitcoin’s Lightning Network Now Available for Argentina From OpenNode Partnership With Lemon Cash

OpenNode, a supplier for Bitcoin payments, has teamed with Lemon Cash, a well-known Latin American bitcoin wallet service. The wallet’s cooperation with OpenNode allows over 1 million Lemon Cash users to now access Bitcoin’s Lightning Network. “This partnership is yet another example of our capability and belief in Bitcoin as the new base layer for global payments… We’re proud to support Lemon’s mission and its desire to scale and benefit

Read More »
LuckyBlock is a worldwide game and competition platform with play to earn rewards using blockchain protocols. They have already given many prizes to the participants of the game.

Lucky Block Partners with Crypto Academy

Lucky Block has partnered with Crypto Academy, as we look forward to many updates and launches ahead.  Lucky Block has reached a partnership with Crypto Academy, the renowned Crypto Marketing Agency, and Informational and Educational portal. With an incredible success rate in helping cryptocurrency-focused startups grow in the industry, the partnership with Crypto Academy is a stepping stone in the exciting journey ahead for Lucky Block. LuckyBlock is a worldwide

Read More »

My Coins

$ 20,466.001.83%
$ 1,171.152.62%
$ 0.4635491.51%
$ 0.9996940.44%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: