Cryptocurrency Whales Make Significant Moves

Recent fluctuations in cryptocurrency prices were linked to actions of whales from the ICO era. One prominent individual transferred a substantial portion of their assets, moving 25% to the Kraken exchange in a single transaction.

Noteworthy Ether Transaction

An unidentified Ethereum (ETH) whale, who acquired 67,000 Ethers through an initial coin offering (ICO) in 2015, executed a massive transfer to Kraken, according to reports by Chinese cryptocurrency journalist Colin Wu.

The transaction, which took place on June 7, 2024, saw the whale move 15,200 ETH, equivalent to around $56.47 million, to the centralized exchange. The whale had initially received 200,000 ETH, likely through participation in the ICO, and currently holds 41,000 ETH.

Account Details

The account associated with the whale now holds Ether worth $152.3 million for selling purposes, as per data from public explorers. Remarkably, this particular transaction marked only the third activity for this account since 2022.

Between 2020 and 2021, the account conducted significant transfers to centralized exchanges, moving more than 150,000 Ethers, totaling over $553 million.

Reports also suggest that the Ethereum Foundation might have offloaded 1,000 Ethers last month.

Liquidation Events

A substantial part of the sold Ethers was swiftly converted into 4.81 million DAI tokens, fetching an average of $2,725 per ETH.

In a notable liquidation event, Ethereum (ETH) traders faced significant losses, with over $50 million in short positions and $5 million in long positions liquidated within 24 hours, based on data from Coinglass.

At present, Ethereum (ETH) is trading at $3,694.04, showing a 2.89% decrease in value over the last day.