An Ether (ETH) whale, which has held the token since the initial coin offering (ICO), has made waves on Monday as it moved ETH worth millions to Crypto Exchange Kraken, according to a blockchain sleuth spot on the chain.
The whale deposited 7,000 ETH, worth $ 13.8 million at the time of press, to Kraken as the token price collapsed with the broader market of the US’s fears. Ether tanked at $ 1,760, which has reached the lowest since October 2023, and last changed hands to $ 1,900.
Large flows in the exchanges are said to represent the intent of the fluid investors as the ownership of the margin/collateral in the trading of derivatives. It often remembers price volatility.
The Ether ICO Whale still holds 30,070 ETHs worth more than $ 50 million.
