Crypto whales were on the move over the weekend as several large transactions worth over $350 million were spotted on the Ethereum (ETH) network.
Another Ethereum whale relocated 96,638 ETH worth over $141.81 million between two unidentified wallets about 45 minutes later.
? ? ? ? ? ? 96,638 #ETH (141,817,476 USD) transferred from unknown wallet to unknown wallethttps://t.co/NKfMeIqMVH
— Whale Alert (@whale_alert) March 12, 2023
Whale Alert also spotted a number of big altcoin transactions over the weekend, including the transfer of crypto assets to borrowing and lending protocol Aave (AAVE) and stablecoin-focused project Frax (FRAX).
The whale movements come as crypto braces for new market conditions following the collapse of Silicon Valley Bank (SVB) and the depegging of stablecoins USDC and DAI.
Yesterday, the Federal Reserve announced the creation of a new Bank Term Funding Program in an effort to ease liquidity pressures and allow banks to meet the needs of their depositors.
Featured Image: Shutterstock/Animedigitalart
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