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A whale transferred nearly 630,000 ETH Compound, and the locked value is approaching the milestone of 10 billion US dollars



"A whale transferred 630,000 ETH to the Compound protocol contract address, bringing Compound's total locked value (TVL) to $9.5 billion, setting a new record for a DeFi protocol."

An anonymous whale has just transferred more than 629,000 ETH (worth more than $1.3 billion at Ethereum’s current price) to the DeFi lending protocol Compound contract. This made the locked value of the Compound protocol break through 9 billion US dollars, reaching 9.5 billion US dollars, creating a new history of DeFi protocols, ranking first among all DeFi protocols, and approaching 10 billion US dollars.

The whale made the transaction from an unknown wallet on April 3 at 7:53AM UTC.

Solana responded that the Ping Time was abnormal: it was caused by the update of the webpage, not a system performance problem: Jinse Finance reported that today the Solana network status page showed an abnormality in the average Ping Time. The performance problem is not related and has no impact on network performance. Currently, the average Ping Time indicators have returned to normal. [2022/11/20 22:07:40]

The payee wallet is a smart contract for Compound, a decentralized finance (DeFi) protocol that allows traders to earn money in cryptocurrencies they deposit, similar to depositing money into an interest-bearing bank account.

NFT project Gutter Cat Gang will build Gutter City in The Sandbox: On December 29th, the NFT project Gutter Cat Gang announced that it will cooperate with voxel design studio Blaze Games to expand Gutter City in The Sandbox game ecosystem.

Since the establishment of Gutter Cat Gang in June 2021, one of the first tasks of the Gutter Labs team has been to explore metaverse activation plans and experiences in the NFT field. Shortly after the launch of the Gutter Cat Gang NFT, Gutter Labs has purchased a 3×3 piece of land in The Sandbox. [2021/12/29 8:12:13]

But the identity of the sender remains a mystery. Since this wallet is untagged, and the Ethereum blockchain is pseudonymous, it is difficult to tell who this person (or group of people) is.

The Sandbox’s total NFT transaction volume surpassed Loot’s and ranked seventh in the NFT collection series: Jinse Finance reported that according to the latest data from DappRader, the Metaverse virtual world The Sandbox’s NFT transaction volume has surpassed Loot’s, ranking seventh in the NFT collection series. As of this writing, The Sandbox has a total transaction volume of $265.71 million, while Loot (for Adventurers) has a total transaction value of $263.09 million. In terms of trading volume and traders, The Sandbox had 26,044 traders with a total of 83,053 transactions; Loot (for Adventurers) had 4,496 traders with a total of 10,088 transactions. [2021/12/5 12:51:59]

Coinciding with the whale action, the price of Ethereum surged above $2,000 and hit an all-time high of $2,152. To complete this massive transaction, the whale paid a gas fee of only 0.0205 ETH — a little over $43 at the time.

The gas fees paid to Ethereum miners to execute transactions are dynamic, operating in an auction-style market. Network congestion and the availability of miners determine the fees quoted at any given time, not the value of transactions.

The $43 that this whale paid to transfer $1.3 billion in ETH is a drop in the ocean.

The Compound contract also received 298.7 ETH, or just over $627,000, from another unknown wallet yesterday, and 13,000 ETH (over $27 million) four days earlier. the

The whale’s address transaction information shows that it usually trades stablecoins, not ETH. The wallet now also has a balance of 333 ETH, which is close to $700,000.

Stablecoins are widely used in DeFi. DeFi is a loosely connected collection of non-custodial financial protocols, most of which are built on top of Ethereum.

Whales love DeFi protocols. There’s even a tracker that tracks whales making waves on DeFi. Launched last September, UniWhales sends live updates via Telegram about big trades on decentralized exchange Uniswap.

Occasionally, mysterious whales make sudden appearances.

When Beeple’s artwork was sold for $69.3 million to a whale going by the pseudonym “Metakovan,” crypto journalist Amy Castor later revealed his identity as crypto entrepreneur Vignesh Sundaresan.

Earlier this year, multiple ancient Bitcoin whales awoke after a decade-long hibernation. On February 24, one hundred bitcoins that had been dormant since June 2010 were transferred to another unknown wallet for the first time.

Ancient Bitcoin whales have sparked curiosity, as the owners of the old wallets are often believed to have known or been connected in some way to Bitcoin's mysterious creator, Satoshi Nakatomo.

In the past, their actions have also sent the price of Bitcoin plummeting, as the value of the tokens they hold has accumulated so much that any major sell-off would shake the market.


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