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Mysterious Ethereum whale's huge ETH transfer caused market turmoil?
Recently, a mysterious Ethereum ICO participant made a surprising move, transferring up to 8,518 ETH (about $32.51 million) in two batches to the address of Kraken, a well-known exchange in the United States. This behavior instantly attracted high attention and endless speculation from the market.
According to public information, the address "0x771" regarded as a "big whale" still holds 14,644 ETH, worth about $55.91 million.
Looking back at the ICO period, this very important holder received up to 100,000 ETH from the address "0xc348", when the price of mainstream tokens was only $0.311.
In the year after the ICO ended in July 2015, the “whale” sold some of his Ethereum and then remained silent until he became active again three months ago, transferring 29,519 ETH to the current address.
Since then, the unidentified Ethereum address has transferred tokens to Kraken twice, one of which was today.
Some analysts believe that the investor may have decided to lock in the lucrative profits brought by his tokens.
After all, the price of major tokens has risen by a staggering 1,228,387% since the ICO.
If the investor had not sold all of his 100,000 ETH during this period, he would have made a huge profit of up to $349.7 million.
Historically, such “whale” behavior is usually seen as a bearish signal and often leads to a significant increase in market volatility.
However, surprisingly, the price of Ethereum today is up 0.8% and is only 7% away from its all-time high.
Whether this incident will trigger more "big whales" to return to the market remains to be further observed, but at present, the market demand and confidence in Ethereum remain strong.
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