According to reports, over 163,000 Ethereum (ETH) worth over $504 million has been moved in one single transaction via an electronic wallet. As for the whereabouts of these funds, they have been transferred to a new and unknown wallet.

There is no information about the identity of the person who executed the transfer. It is likely that the trader who executed this move is the owner of the well-known wallet called “Whale” who has a large amount of digital currency funds.

This transfer represents a huge transaction in the digital currency Ethereum, but it also represents a normal transfer in the digital currency market that witnesses everyday use of massive transfers.

Sometimes, huge transfers implemented in the market have a significant impact on the prices of cryptocurrencies. Digital currencies with large market caps, especially Bitcoin, experience a significant increase in their prices if a large transfer is executed. However, these transfers are usually analyzed by various sources and experts in the digital currency market. Analyzing these procedures helps in making predictions and decisions in the market.