Giant Transfer from Ethereum ICO Whale to Kraken

Big Transfer to Kraken: Why Did the Ethereum ICO Whale Transfer $24 Million?

After more than six months of quiet, a whale from the Ethereum initial coin offering (ICO) era has unexpectedly surfaced again. A wallet that bought 254,900 ETH at an ICO price of $0.311 per token during Ethereum’s 2015 initial coin offering (ICO) moved 7,000 ETH, or $24.28 million, to the Kraken market today. With this transaction, the prominent holder—who still owns a considerable 40,000 ETH valued at around $139.5 million—ends a 209-day silence.

These Whale Movements May Affect Market Sentiment

The cryptocurrency community is paying attention to this whale‘s moves because of the possible market consequences in addition to the sheer quantity of the holdings. Particularly when the transfer is to a major exchange like Kraken, large transactions by these early adopters might affect price dynamics and market sentiment. A person may transfer to an exchange in order to sell something or get ready to engage in more trading activity, albeit this is not necessarily the case.

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