An ether (ETH) whale, who has held the token since its preliminary coin providing (ICO), made waves on Monday because it moved ETH price tens of millions to crypto alternate Kraken, in keeping with blockchain sleuth Spot on Chain.
The whale deposited 7,000 ETH, price $13.8 million at press time, to Kraken because the token’s value plummeted together with the broader market on U.S. recession fears. Ether tanked to $1,760, reaching the bottom since October 2023, and final modified fingers at $1,900.
Massive inflows into exchanges are stated to characterize buyers’ intention to liquidate the asset or deploy the identical as margin/collateral in derivatives buying and selling. This usually breeds value volatility.
The ether ICO whale nonetheless holds 30,070 ETH price over $50 million.
Ether ICO whale. (Spot On Chain)
