JAKARTA Most crypto owners or Whales move hundreds of ETHs to various crypto exchanges. Actions took place ahead of the Fed's interest rate hike decision.
According to whale tracking data, Whale Alert reported that whales moved about 500 thousand ETH in the past two days. This raises concerns because it can cause selling action in the crypto market.
In addition to whales, crypto trading company Amber is also involved in major transactions, transferring $10.000 ETH worth 15.8 million to the Binance crypto exchange. Etherscan data reveals that a new wallet that receives ETH from whales may be related to Genesis.
Further analysis shows that some whales moved ETH to unknown wallets, Bitstamp, and Coinbase. Similar whale transactions have been recorded over the past 48 hours, causing increased pressure before the US Fed rate hike decision.
With this huge transaction, crypto market players must be vigilant and pay attention to further developments. However, the rise in US interest rates could affect the crypto market, and whale activity could play an important role in this regard.
The price of Ethereum (ETH) has increased by about 1 percent in the last 24 hours, currently trading in the range of 1,579 dollars per coin. With a low price range and a maximum price range of 24 hours of 1,569 dollars and 1,598 US dollars. What's more, trading volume has decreased by about 20 percent in the last 24 hours, indicating a decrease in interest from traders.
Wall Street analysts predict that the Fed will likely slow interest rate hikes by 25 bps due to down inflation, strong job data, and increased US GDP growth in the fourth quarter, Coingape reported.
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