Ethereum News Today: Ethereum ICO Whale Moves $19M ETH to Kraken Amid 5% Price Drop

A participant in Ethereum’s 2014 initial coin offering (ICO) has recently moved 4,460 ETH—valued at approximately $19 million—to Kraken, as the broader cryptocurrency market experiences a temporary downturn [1]. On-chain data reveals that the transfer originated from the wallet address “0x815…e6c3eD,” which has been linked to the Ethereum ICO that took place between July and September 2014. During the ICO, ETH was sold for an average of $0.31 per token, a fraction of its current price of around $4,300 [1].

The transaction, reported by on-chain analytics firm Arkham Intelligence, follows a pattern of increased activity from the same wallet over the past week. The address has moved nearly 9,803 ETH—worth approximately $44 million—to crypto exchanges, suggesting a broader strategy to liquidate a portion of its long-held stake [1]. The move comes as Ethereum trades at a 5% decline over the past 24 hours, following a brief dip below $4,300 earlier in the week. Despite this pullback, ETH remains up roughly 62.9% year-to-date, according to CoinGecko data [1].

Ethereum whales are closely watched in the crypto market due to their potential to influence price movements. The recent activity from this particular wallet is notable not only for its scale but also for the wallet’s historical inactivity—until recently, it had remained dormant for years [1]. Analysts have noted that such large-scale movements often indicate a strategic decision by the holder to either sell off a portion of their holdings, stake the tokens, or diversify their portfolio into other assets [1].

The timing of the transfer also raises questions about the investor’s market outlook. With Ethereum nearing its all-time high of nearly $4,800 just over a week ago, some have speculated that the whale may be locking in profits amid the current bearish trend. Additionally, another Ethereum ICO wallet was recently activated for the first time in a decade, with the user moving $1.5 million worth of ETH, suggesting a broader trend of early investors reassessing their positions [1].

While the full implications of the transfer remain to be seen, the movement of such a large volume of ETH onto a major exchange could signal a potential shift in market sentiment. The wallet still holds 197 ETH, valued at approximately $852,460, indicating that the investor has not fully exited their position [1].

Source: [1] Ethereum ICO Whale Moves $19.8M ETH to Kraken Amid Price Dip (https://blazetrends.com/ethereum-ico-whale-moves-19-8m-eth-to-kraken-amid-price-dip/)