An ether (Eth) whale that has held the token since its original coin tender (ICO) created waves on Monday when it moved Etho worth millions to crypto exchange Kraken, according to Blockchain Sleuth spot on the chain.
The whale deposited 7,000 ETH to a value of $ 13.8 million at the time of the press, to Kraken as the token’s price coincided with the wider market on the US recession fear. Ether refueled at $ 1,760 and reached the lowest since October 2023 and last changed its hands to $ 1,900.
It is said that large influxes in exchanges represent the investors’ intention to run the asset or insert the same as margin/security in derivatives. This often breeds award volatility.
Ether ICO -whale still has 30,070 ETH worth over $ 50 million.
