Yesterday's cryptocurrency prices dropdown was accompanied by activity of ICO era whales. One of them moved 25% of his virtue to the Kraken exchange in a single transaction.

Ether whale from 2015 moved 15,000 ETH to Kraken

Unknown Ethereum (ETH) whale who received 67,000 Ethers during its initial coin offering (ICO) back in 2015 initiated a monstrous transfer to Kraken, Chinese crypto journalist Colin Wu says.

A whale address (0xa0...4409) that received 67k ETH from the Ethereum Foundation address in 2015 transferred 15,200 ETH (about $56.47m) to Kraken today. This address received 200k ETH (probably participating in the ICO) in the Ethereum Genesis block. It currently holds 41,000 ETH…

— Wu Blockchain (@WuBlockchain) June 8, 2024

The transaction was registered on June 7, 2024. In total, the account transferred the equivalent of roughly $56.1 million to the large centralized exchange.

As of today, the account has $152.3 million worth of Ether (ETH) for selling, the public explorer's data says. It was only the third transaction of this account since 2022.

In 2020-2021, the account sent to centralized exchanges a gargantuan amount of crypto: In six transfers, it moved over 150,000 Ethers or over $553 million.

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As covered by U.Today previously, Ethereum Foundation might have initiated a dump of 1,000 Ethers (ETH) a month ago.

$50 million in Ethereum (ETH) longs liquidated in 24 hours

A large part of this dump was immediately exchanged for 4.81 million DAI, averaging $2,725 per ETH.

In the largest liquidation wave in months, yesterday, Ethereum (ETH) traders lost over $50 million in short and $5 million in long positions, Coinglass data says.

By printing time, Ethereum (ETH) is changing hands at $3,694.04, being 2.89% down in the last 24 hours.