‘FTX Accounts Drainer' Now Holds Over 250,000 ETH, Address Is the 27th Largest Ethereum Wallet

The exploiter responsible for siphoning millions of dollars in ERC20 tokens and ethereum from FTX has added more ether to the entity's holdings. The wallet is now situated in the top 30 largest wallet positions in terms of ethereum holdings. The address dubbed the “FTX Accounts Drainer” now holds 250,735 ethereum on Saturday, Nov.

Timeline of Ethereum

Since FTX's collapse, there has been an increase in ETH accumulation As most HODLers fail to see profit, short traders appear to be accumulating As the price of leading altcoin Ethereum [ETH] lingered above the $1,200 psychological support level, data from Santiment revealed that sharks and whales have ramped up their ETH holdings in the

Several daily candles with long-wick rejections indicate uncertainty among market participants. Moreover, the ongoing consolation formed a descending triangel pattern in the 4-hour time frame chart.

Ethereum price analysis is bullish today as we have seen further sideways action over the last 24 hours above the $1,200 support. Likely reversal will follow later as ETH/USD will look to retest the $1,275 resistance.

Ever since news around the FTX exchange started doing rounds, the entire cryptocurrency market was crippled with FUD. With each passing day, authorities are discovering shocking facts around SBF and the exchange.

Ethereum founder and CEO Vitalik Buterin in a recent letter proposed the plan of using the ZK-SNark feature to improve the Ethereum network's scalability. In a letter, he also mentioned Balaji Srinivasan, the former CTO of Coinbase, Kraken, and Binance, for discussion.

Crypto analytics firm Santiment claims that Ethereum (ETH) whales haven't been deterred by the market's bearish price action. Santiment notes that whale and “shark” addresses holding between 100 and 100,000 ETH have increased their holdings by 3.5% in the past 12 days.

The FTX drainer wallet linked to a possible hack of the now-bankrupt crypto exchange continues to swap more tokens for ether. The post FTX drainer consolidates ether holdings to reach $302 million appeared first on The Block.

Recently, at COP27, one of the world's largest gatherings on climate action, a group of Web3 companies convened by ConsenSys and Allinfra, joined civil society leaders and the UNFCCC Climate Innovation Hub, “to announce the creation of the Ethereum Climate Platform (ECP).

Following the bankruptcy of crypto exchange FTX, this statement comes at the wrong time for Solana, which was among the top 5 largest cryptocurrencies by market size only weeks ago. With a 25.

Tether, the issuer of the USDT stablecoin, said it was conducting a chain swap to move 1 billion USDT from Solana to Ethereum. The post Tether says it's moving 1 billion USDT from Solana to Ethereum appeared first on The Block.