Whale Alert: $13M ETH Transfer – Is It Panic or Strategy? 🐋💸

by

What to know:

  • So, an ether ICO whale decided to wake up from its five-month nap and transferred 7,000 ETH to Kraken. 💤
  • This little transfer party happened just as ETH’s price decided to take a nosedive to its lowest since October 2023. 🎢

Picture this: an ether (ETH) whale, who’s been snoozing since the ICO, suddenly makes a splash on Monday by moving millions to crypto exchange Kraken. Thanks, blockchain detectives at Spot on Chain, for the gossip! 🕵️‍♀️

Our sleepy whale deposited 7,000 ETH, which is about $13.8 million (you know, pocket change) to Kraken while the token’s price was doing its best impression of a rollercoaster, plummeting due to U.S. recession fears. Ether hit a low of $1,760, the lowest since October 2023, before deciding to play nice again at $1,900. 🎢💔

Now, large inflows into exchanges usually mean investors are either liquidating their assets or using them as collateral for some risky business in derivatives trading. Because who doesn’t love a little price volatility? 🎉

And just when you thought the whale was done, it still holds a whopping 30,070 ETH worth over $50 million. Talk about a rich sleepwalker! 💰💤

Read More

2025-03-11 08:46