Ethereum whale deposits 15,000 ETH worth $38.4M to Kraken, sparking market watch.
ETH price surge follows Fed's rate cut, climbing 6.39% in just one week.
Whale's 26,639 ETH stash now valued at $69.7M, profits soar to $132M.
An Ethereum whale, notable for steadfast investment strategies, recently transferred a substantial 15,000 ETH, worth approximately $38.4 million, to the Kraken exchange. This action has sparked market speculation due to the investor's previous trading patterns just before significant price shifts.
Whale's 250 ETH Transfer Fuels Market Dip Speculation
This is a trending topic within the crypto community since a large Ethereum transaction occurred. A single Ethereum whale using the wallet 0x682 transferred 250 ETH to Kraken, which led to speculations about the transaction's effect on the cryptocurrency's price. Previously, this investor successfully predicted downturns, selling large quantities of ETH before declines in market prices.
https://twitter.com/spotonchain/status/1837663788138701287
This latest transfer aligns with prior actions where the investor disposed of ETH ahead of market dips. On July 25, they sold 10,000 ETH, and on August 20, another 15,000 ETH, each time just before notable drops in Ethereum's value. Observers are now keenly watching the market for similar outcomes, wondering if this repeat behavior will lead to another dip.
Whale's Portfolio and Profit Analysis
The Ethereum whale's current holdings are as impressive as their trading insight. Data reveals the investor possesses 26,639 ETH, valued at around $69.7 million, with total profits estimated at $132 million. This represents an 86% return on their Ethereum investments, underlining a highly effective trading strategy that has amassed considerable gains.
Spot-on-chain, a blockchain analytics platform, highlighted the whale's knack for timing the market, shedding light on their historical trading patterns. These insights into the whale's activities help others in the community gauge potential market movements and strategize accordingly.
Ethereum's Recent Market Performance
Amidst these whale movements, Ethereum itself has shown robust performance. Following a recent rate cut by the Federal Reserve, Ethereum's price surged over 6.39% last week. It went up steadily and reached $2,632 before it reached the overhead resistance level. Although some big investors relocated from the Ethereum-based ETFs, this digital currency has maintained its bullish trend, proving market stability.
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