An Ethereum whale address has moved 46,793 ETH worth more than $181 million to the Binance cryptocurrency exchange on May 11. Large crypto whales seem to be waking up from their slumbers this week after ETH crossed above the $4,000 price level. A day after slipping below the $4000 price mark during a market-wide rally, Ethereum (ETH) has bounced back today to hit a new all-time high of $4300 with a market cap of $500 billion. Ethereum Whale Moves 46,793 ETH to Binance According to data from crypto analytics firm Whale Alert, a large Ethereum address has moved 46,793 ETH worth more than $181 million to the Binance cryptocurrency exchange. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 46,793 #ETH (181,443,548 USD) transferred from unknown wallet to #Binancehttps://t.co/kDHvfAqcSO — Whale Alert (@whale_alert) May 11, 2021 The latest crypto inflow to Binance comes as a surprise considering crypto exchanges around the world have reported massive ETH outflows in the last few days. For instance, on May 11, a whale alert notified of a crypto transaction involving the movement of 30,000 ETH worth $115 million from Crypto.com to an unknown digital wallet. The same day another large Ethereum address transferred 15,400 ETH on 11 May from Gemini exchange to an unknown digital wallet. While data from Glassnode indicates that cryptocurrency exchanges are currently holding nearly 12% of the total ETH supply, compared to 17% in September 2020. Ethereum is the 16th Most Valuable Asset In the World With its ongoing rally, data by Infinite Marketcap shows that Ethereum (ETH) has now outgrown corporate giants like Samsung and JPMorgan Chase VISA. At these valuations, Ethereum (ETH) currently ranks the 16th most valuable asset class in the world. An increased institutional inflow has also played a key role in the movement of the second-most valuable cryptocurrency in large amounts. In its weekly digital asset fund inflows report, CoinShares a leading digital asset management firm mentioned that Ethereum investment products attracted $60 million worth of institutional inflows just last week. Meanwhile, the latest jump in the price of Ethereum has further pushed the total value of Grayscale’s Ethereum assets under management to $12.5 billion. The company now holds more than 3.1 million ETH along with 650,000 Bitcoin (BTC).
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