A big transfer from an investor who bought Ethereum from the pre-sale!
An investor who bought Ethereum from the pre-sale transferred approximately 15 thousand $ETH to the Kraken exchange.
According to Arkham Intelligence data, the last Ethereum ICO (pre-sale) participant made a transaction two years ago. At that time, the investor who added 15,000 ETH to their wallets spent a total of $29.74 million. The current value of the ETH in question reached $39.38 million. It was a matter of curiosity whether the whale, who transferred a large amount of ETH, would sell.
Whales, who got excited with the rise of the market, increased their transfer transactions. Transfers in BTC, ETH, and USDT pairs in particular attracted attention. If Bitcoin exceeds $80,000, onchain data will gain even more movement.
It is generally interpreted that investors will move in a sales direction when they transfer their cryptocurrencies to exchanges. If the cryptocurrencies entering the exchanges are more than the exits, a decrease in the relevant parity is highly probable. For example, there was a sharp decline in Bitcoin a few days before the US presidential election. A large amount of Bitcoin was transferred to cryptocurrency exchanges before this decline.
According to Glassnode data, Ethereum's net exchange flow has now increased to 74,266. If this trend continues, selling pressure may appear in $ETH . The leader of altcoins, which is changing hands at $ 2,800 as of the writing of the news, may start a bull run if it makes a weekly close above $ 3,000. In addition, data from spot ETH ETFs will play a critical role. With the increase in inflows to ETFs, Ethereum may target higher levels.
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