Another Major Ethereum Sale to Kraken: Will This Move Push ETH Prices Higher?

• Ethereum whale transferred 70,000 ETH to Kraken, earning $104.65M profit in six months.
• The whale sold another 15,000 ETH for $38.37M, continuing a series of strategic moves.
• With 26,638 ETH still held, the whale’s ongoing activity impacts Ethereum’s market dynamics.

An Ethereum whale that withdrew 96,638.9 ETH from Coinbase in September 2022 at a price of $1,567 has made another significant move. The whale recently sold 15,000 ETH, valued at $38.37M, marking a continued series of strategic transfers to Kraken. The activity comes as the whale has now moved 70,000 ETH, with a realized profit of $104.65M over the past six and a half months. 

The whale’s transactions began in March 2024, with consistent transfers to Kraken at an average price of $3,062. This has allowed the whale to profit substantially, selling Ethereum for a price nearly double its initial acquisition value.

Despite these significant transfers, the whale still holds 26,638 ETH, worth approximately $69.61M, signaling ongoing potential influence on the market.

In August 2024, a similar pattern emerged when the same whale transferred 15,000 ETH to Kraken, valued at $39.44M, in just one transaction.

Over five and a half months, this whale has moved a total of 55,000 ETH to Kraken, earning a profit of $89.76M, with an average sell price of $3,199. The consistent strategic moves showcase the whale’s ongoing market activity, potentially influencing Ethereum’s trading patterns.

Besides these significant transfers, another major Ethereum whale who withdrew the same amount of 96,638.9 ETH from Coinbase in September 2022 has also been active.

This second whale transferred 10,000 ETH to Kraken just 20 minutes ago. In the past four months, they have transferred a total of 30,000 ETH, making a substantial profit of $56.13M, with an average selling price of $3,438. 

The activity of these large Ethereum holders continues to attract attention within the market, with their sales impacting liquidity on major exchanges. With both whales still holding substantial ETH reserves, their future actions may continue to affect Ethereum’s price movements and market dynamics.