50,000 ETH ($190m) Transferred from Binance to an Anonymous Address

IconCryptoNewsTerminal Staff29 May, 2024

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50,000 ETH ($190m) Transferred from Binance to an Anonymous Address

A massive transfer of 50,000 ETH, worth approximately $190 million, has been recorded on the Ethereum blockchain. According to Whale Alert, a popular blockchain tracking service, the funds were moved from a Binance address to an anonymous recipient. The transaction took place on Thursday, May 12, 2022, and the funds arrived in the anonymous wallet about 15 minutes later. The transfer has sparked speculation within the crypto community, as it is not clear who is behind the anonymous address. Some believe that the funds may belong to a whale, a large holder of cryptocurrency, while others speculate that it could be an exchange or a hedge fund. The transfer is also notable for its size. At the time of the transaction, 50,000 ETH was worth around $190 million, making it one of the largest single transactions of ETH ever recorded. The transfer also highlights the growing popularity of Ethereum as a store of value, as well as the increasing use of cryptocurrency for large-scale transactions.

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