"Fortunately the price of ETH is not affected at all."
Before the Federal Reserve (Fed) of the United States (US) gave a decision to increase interest rates early this morning, whales moved 500,000 Ethereum (ETH) and cryptocurrency trading company Amber moved 10,000 ETH worth $15.8 million to Binance.
Most investors fear that ETH will plunge when the whales are found to be moving a large amount of the digital asset when the price is in a horizontal movement.
Last Tuesday, two whales each transferred 65 million ETH from Luno and 24,809 ETH worth $38 million to Coinbase.
While other whales transferred almost 186,429 ETH worth 295 million to an unknown wallet in the past one day from his wallet which is said to have held the digital asset for 14 days and is related to Genesis.
It was reported that whales today also removed around 16,254 ETH worth $25 million from Wrapped Ether (WETH) to an unknown wallet in addition to whales transferring 16,109 ETH to crypto exchange company Bitstamp.
To date, the price of ETH has surged by 5.93% in the last 24 hours to break through the $1,695 level with a market capitalization of $205 billion but fell slightly in the $1,676 zone.
The increase in the price of the digital asset was announced after the Fed announced an increase in interest rates by 25 basis points at the February 2023 policy meeting early this morning.
