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Dormant Ethereum Whale Awakens: $13 Million in ETH Moves to Kraken Amid Market Turbulence
Despite the recent sell-off, a dormant Ethereum (ETH) whale has reemerged, transferring 7,000 ETH ($13.8 million) to Kraken as the cryptocurrency’s price plummeted to $1,760 – its lowest level since October 2023.
The sudden move by the whale, which has been dormant since the initial coin offering (ICO), coincided with Ethereum’s market turbulence. The whale still holds a significant amount of ETH, approximately 30,070 coins ($50 million), leading many to wonder if this could be the start of more selling pressure in the near-term.
Ethereum traders should closely monitor exchange inflows as the whale’s sudden move has raised concerns about potential further corrections. The recent sell-off saw Ethereum plummet below its realized price for the first time in two years, leaving long-term holders at an unrealized loss.
Source: https://ambcrypto.com/dormant-eth-whale-awakens-13m-in-eth-moves-to-kraken-amid-market-turbulence/
