69,306 ETH Transferred From Unknown Wallet to FTX

69,306 ETH Transferred From Unknown Wallet to FTX
  • Unknown whale wallet transfers 69,306 ETH to FTX.
  • This mysterious wallet has been transferring to the same FTX address since February 2021.
  • The total net worth of the FTX address was around $436 million.

An unknown whale wallet transferred a whopping 69,306 Ethereum ($98,907,137 at the time of transfer) to FTX, a cryptocurrency derivatives exchange. The transfer was confirmed in a Twitter post by Whale Alert, a blockchain tracker and analytics that reports huge whale transactions on the space.

According to the data shared by whale alert, the transaction occurred on Tuesday, July 26, 2022 at 2:24 UTC, with a transaction fee and gas price of around 0.000859 ETH or $1.19 at the time of writing.

After today’s transaction, all the Ethereum holdings of the unknown whale wallet were transferred to the FTX address. Currently, the unknown wallet has exactly $138,917.82 worth of USD Coin, $103,116.75 worth of Maker, and $1,403.23 worth of stETH. The mysterious wallet has been receiving Ether from different addresses (more than 90) as per the transaction record, and was usually using the wallet to transfer it to FTX.

Replies from the Twitter post said that the huge dump was in connection with today’s FED meeting, others said that the transfer will affect the price of ETH as the market turned bearish. However, the unknown wallet has been dumping ETH holdings on the same exact FTX address since February 2021, and today’s transaction was the largest among all of these transfers. 

At the time of writing, the Ether holdings of the FTX address among others currently holds a huge amount of 315,307.68 ETH, with a total net worth of around $435,501,109. On the other hand, the price of ETH is currently at $1,384.12, down 8.58% as per CoinMarketCap.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.