An early Ethereum (ETH) investor transferred 6,000 ETH ($9.96 million) to **Kraken** this week, according to on-chain data from **Lookonchain**. The whale participated in Ethereum's **2014 ICO**, acquiring 254,908 ETH at $0.31 per token.
Key Details of the ETH Transfer
- Amount Moved: 6,000 ETH ($9.96 million)
- Current ETH Price: $1,647 (as of reporting)
- Growth Since ICO: 531,361% over 9 years
- Transaction Fee: $2.80 (Etherscan)
- Remaining Holdings: 49,070 ETH (~$80.7 million)
Whale Activity and Market Trends
The investor's wallet has been active since Ethereum's launch, with occasional small deposits suggesting possible dusting attacks—a tactic where trace amounts of crypto are sent to de-anonymize wallets.
👉 Explore Ethereum's latest price trends
Santiment reports that Ethereum whales (10–10,000 ETH holders) have been selling consistently since Q2 2023.
"Profit-taking spiked when ETH hit $2,120, a 1-year high. This tier dumped holdings for four straight months."
— Brian Quinlivan, Santiment’s Marketing Director
FAQs
Why did the whale deposit ETH to Kraken?
While unconfirmed, large exchange deposits often precede sales, staking, or trading. The whale may be capitalizing on gains after ETH's 531,361% appreciation.
What are dusting attacks?
Dusting involves sending negligible crypto amounts to wallets to track activity. This whale’s wallet received multiple micro-transactions, likely from bad actors.
How do whale movements affect ETH’s price?
Large sell-offs can increase market supply, potentially driving prices down. However, ETH’s liquidity often absorbs such transactions without drastic impacts.
👉 Learn how to secure your crypto assets
Conclusion
This transaction highlights the staggering returns of early ETH adopters. Despite the sell-off, the whale retains $80.7 million in ETH, underscoring long-term confidence in Ethereum’s ecosystem.
For real-time updates, follow industry leaders and track on-chain data via platforms like Etherscan and Santiment.
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