An ether (ETH) whale, who has held the token since its preliminary coin providing (ICO), made waves on Monday because it moved ETH value hundreds of thousands to crypto change Kraken, based on blockchain sleuth Spot on Chain.
The whale deposited 7,000 ETH, value $13.8 million at press time, to Kraken because the token’s worth 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 arms at $1,900.
Massive inflows into exchanges are stated to signify buyers’ intention to liquidate the asset or deploy the identical as margin/collateral in derivatives buying and selling. This typically breeds worth volatility.
The ether ICO whale nonetheless holds 30,070 ETH value over $50 million.
Ether ICO whale. (Spot On Chain)
