Summary
- An Ethereum ICO whale recently transferred 3,000 ETH to Kraken, increasing the possibility of a sell-off.
- The whale has deposited a total of 9,910 ETH to Kraken over the past three months, reportedly generating profits of $32.83 million.
- Large Ethereum deposits to exchanges can trigger increased selling pressure and short-term volatility.
An anonymous whale who participated in Ethereum's (ETH) Initial Coin Offering (ICO) has deposited 3,000 ETH to Kraken three hours ago.
On the 24th (local time), analyst ai_9684xtpa revealed via X that "an Ethereum ICO whale who held 20,000 ETH has deposited 3,000 ETH to Kraken," noting that "this amounts to approximately $8.18 million." The analyst further expressed concern that continued selling by Ethereum whales makes price increases difficult.
According to the data, the whale in question has deposited a total of 9,910 ETH to Kraken over the past three months. The analyst added that "if all of this was sold, it would have generated profits of $32.83 million." Currently, the whale holds 4,070 ETH.
Typically, large deposits to exchanges can lead to increased selling pressure and may cause short-term volatility.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
![[Market Update] Bitcoin slides to the $68,000 range… "Macro caution persists despite upbeat CPI"](https://media.bloomingbit.io/PROD/news/7c356c31-7d95-4f87-9e5b-bf3ebab9c6d6.webp?w=250)
![[Analysis] "XRP enters a pullback after failing to hold $1.62… focus on whether it can break above $1.51"](https://media.bloomingbit.io/PROD/news/43b35985-b585-4ba4-8af7-82ef19948262.webp?w=250)
![[Today’s key economic & crypto calendar] Japan’s preliminary Q4 GDP, etc.](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)