What happened: $55,719,034 worth of Ethereum (CRYPTO: ETH) has just been moved between 2 anonymous cryptocurrency wallets in a single transaction.

The Ethereum wallet address of this mysterious person has been identified as follows: 0x50db4ef6b010c165b9ed16ec1e59b3b36443513a

$55 million worth of Ethereum was sent to an unknown recipient, with the Ethereum wallet address: 0xe864c9439eb042e969c59dd13d38cfdb28e16d73

Why is this important: Cryptocurrency whales that own millions of dollars in Ethereum tend to move the markets on their own. If the whale decides to exit this Ethereum position, the market impact could be enough to drive down the price of ETH. It takes around $15-30 million of selling pressure to drive down the price of Ethereum by 2% on any given exchange.

You can see more details about the transaction here

According to Glassnode, there are 99,644 Ethereum wallets with over $100,000 in ETH.

See also: Best Crypto Apps 2021 and Top Crypto Portfolio Trackers

Price action: Ethereum is up 4% in the past 24 hours.

See also: How to buy Ethereum

Public Blockchain Data from Twitter Whale Alerts.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.