An #Ethereum ICO whale moves a substantial amount of Ethereum to the crypto exchange Kraken, sparking speculations of a possible dump.
In today’s Ethereum news, a whale wallet shifted 4,160 ETH, worth $14.5 million, to a crypto exchange for a possible sale. According to data from SpotOnChain, the address transferred millions of dollars’ worth of Ethereum on Christmas Day.
Transaction Details
The transaction occurred between the Ethereum whale wallet and Kraken at 21:20 (UTC) on December 25. Specifically, the address “0x55df” moved 4,162 ETH ($14.5 million) to “0x54d6,” a Kraken deposit wallet.
SpotOnChain tied the sending wallet to an Ethereum initial coin offering (ICO) participant, who received 20,000 ETH at the time of the event. Notably, the whale acquired the Ethereum stash during the offering in 2015 for $0.31 per coin, totaling $6,200.
Although the whale staked the Ethereum he received then, he habitually dumps the asset at local peaks to realize some profit. For context, data shows that the whale wallet sold 2,719 ETH ($10.1 million then) when Ethereum reached $4,000 on December 4.
The Ethereum ICO participant also sold some on October 31 and September 28, dumping a combined 60 ETH ($158,000) on those days. Meanwhile, the whale still holds 7,043 ETH, worth $24.6 million, currently staked to yield rewards.
Ethereum ICO On-Chain Activities
