Recently, a major Ethereum (ETH) whale transferred a staggering amount of ETH tokens from their wallet to the hot wallet of a popular cryptocurrency exchange, Bitfinex. Lookonchain analysis platform shared insights about the whale, identified as 0x8033, who moved 75,331 ETH tokens worth in excess of $144 million.

The whale was observed making small ETH deposits to Bitfinex earlier in 2019 when the token was trading only at $156. Prior to the large transfer to the exchange, the whale had deposited an additional 900 ETH into Tornado Cash, an Ethereum-based privacy protocol. This transfer may indicate the whale's intention to trade a significant portion of their holdings.

At the time of writing, the flagship altcoin is trading hands at $1,910.80 following a 4.99% price increase. During the last 24 hours, ETH had experienced major swings, with a high of $1,921.27 and a low of $1,820.71. The token is still performing relatively well against other top 10 cryptos in terms of market cap.

ETH's market position has improved even more over the last week, as the token has appreciated by nearly 5% since last Tuesday. This was supported by a larger 24-hour trading volume of $11,580,680,682, about 23% higher than the previous day. Notably, no matter the price action of assets, whales play an essential role in the cryptocurrency market, as their large transfers can lead to major price swings.



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