Ethereum whale sends 5,000 ETH to Kraken amid ongoing sales

According to recent blockchain data, an Ethereum (CRYPTO:ETH) ICO whale transferred 5,000 ETH, valued at $12.22 million, to Kraken. 

This transaction is part of a broader pattern, as the whale has sold 45,000 ETH over the past two weeks, generating $113.2 million at an average price of $2,516 per token. 

Since the ICO, the whale has sold a total of 60,000 ETH for $149.68 million through consistent, incremental sales over the years. 

According to reports, the whale's first major sale occurred in July 2019, when 5,000 ETH was sold for $1.09 million at a price of $218 per coin. 

A more recent sale in June 2024 saw the whale offload 10,000 ETH for $35.39 million at $3,539 per token. 

Over the last two months, the whale sold 45,000 ETH at an average price of $2,516, leaving the wallet with 94,540 ETH, currently worth $230.3 million. 

Additionally, the whale has earned 4,540 ETH through staking platforms like Lido and Rocket Pool. 

Other ICO participants are also moving assets. 

Another whale transferred 10,000 ETH to Kraken in September, marking the end of a two-year dormancy. 

The whale sold this ETH for $24.37 million at an average price of $2,437, leaving 9,298 ETH, valued at $22.63 million, in the wallet. 

Another long-dormant whale moved 2,000 ETH received from Ethereum’s Genesis block after being inactive for over nine years. 

These transactions, according to blockchain records, demonstrate that early Ethereum investors are resurfacing, often after extended periods of inactivity, to sell significant portions of their holdings. 

At the time of writing, the Ethereum price was $2,428.53.