Ethereum ICO Participant Whale Deposits 6000 ETH To Kraken

Whale transferring assets to crypto exchanges usually describes bearish market sentiment.

Last updated: December 11, 2024 12:34 AM

Published September 19, 2023 10:28 AM

Last updated: December 11, 2024 12:34 AM

Published September 19, 2023 10:28 AM

Ethereum Ico Participant Whale Deposits 6000 Eth To Kraken

A Ethereum ICO participant whale has transferred 6,000 Ether (ETH) to crypto exchange Kraken in a latest transaction on September 18.

The onchain analyst Lookonchain, noted that Whale deposited 6,000 ETH, approximately $9.96 million, to Kraken. The address received 106k ETH from the original Ethereum ICO participant whale.

The anonymous whale received 254,908 ETH in July, 2015 from the Ethereum Genesis block, which accounts for approximately $422 million as per the current ETH market price.

Whales transferring their assets to crypto exchanges usually act as a bearish catalyst significantly influences market sentiment and selling pressure. However, the amount transferred by the whale is a very small portion compared to its holding.

Also read: ChainLink Deposits $97.5M Worth LINK Tokens To Binance

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By Gopal Solanky

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Gopal is a passionate crypto researcher & writer with a keen interest in innovations. Being in crypto space for over 4 years of period, he has gained extensive knowledge and technical understanding in DeFi by studying various protocols and decentralized infrastructures.

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