Ethereum ICO Participant Whale Deposits 6000 ETH To Kraken

Whale transferring assets to crypto exchanges usually describes bearish market sentiment.

Last updated: September 19, 2023 10:28 AM

Published September 19, 2023 10:28 AM

Last updated: September 19, 2023 10:28 AM

Published September 19, 2023 10:28 AM

A Ethereum ICO participant whale has transferred 6,000 Ether (ETH) to crypto exchange Kraken in a latest transaction on September 18.

The onchain analyst Lookonchain, noted that Whale deposited 6,000 ETH, approximately $9.96 million, to Kraken. The address received 106k ETH from the original Ethereum ICO participant whale.

A whale deposited 6,000 $ETH ($9.96M) into #Kraken 50 minutes ago.

This whale is an Ethereum ICO participant, receiving 254,908 $ETH($422.6M currently), the ETH ICO price is ~$0.31.https://t.co/f0Ob9tqPqc pic.twitter.com/n3aj96tA31
— Lookonchain (@lookonchain) September 18, 2023

The anonymous whale received 254,908 ETH in July, 2015 from the Ethereum Genesis block, which accounts for approximately $422 million as per the current ETH market price.

Whales transferring their assets to crypto exchanges usually act as a bearish catalyst significantly influences market sentiment and selling pressure. However, the amount transferred by the whale is a very small portion compared to its holding.