- Dormant whale address 0x4097 withdrew 6,334 ETH worth $28.08M from Kraken after four years of inactivity.
- Social sentiment hit 3.8 on August 12, aligning with Ethereum’s rally to $4,718 before correcting below $4,200.
- Ethereum liquidations reached $225.3M in 24 hours, with Bybit leading at $100M, followed by Binance and OKX.
A dormant Ethereum wallet has reemerged, transferring thousands of tokens in a sudden move after years of inactivity. Data shows that the whale address 0x4097 withdrew 6,334 ETH, worth $28.08 million, from Kraken just 50 minutes ago.
The movement stands out due to the wallet’s four year silence, raising attention across trading circles. At the same time, Ethereum is experiencing a strong wave of optimism on social media, with analysts highlighting a notable increase in positive sentiment.
Market Sentiment Fluctuations Tied to Price Swings
According to analyst Ali, Ethereum is currently seeing a surge in positive commentary across social platforms. Weighted sentiment data reflects how overall mood has shifted sharply in recent weeks, directly aligning with ETH’s price behavior.
From mid-July to late July, sentiment climbed above 2.0, with prices peaking near $3,900–$4,000. However, by early August, readings dropped to -0.76, coinciding with ETH falling to around $3,600.
Entering August, sentiment surged again, reaching 3.8 on August 12. This jump matched Ethereum’s rally to $4,718, the upper end of the observed range. Shortly afterward, both sentiment and price corrected, sending ETH below $4,200 by mid-August.
By August 22, sentiment spiked again to 3.65, quickly supporting a price recovery back toward $4,700. The data highlights how emotional swings in the market consistently matched volatility in Ethereum’s valuation.
Whale Transaction Adds to Volatile Environment
The withdrawal of 6,334 ETH from Kraken after four years of inactivity adds a striking element to this backdrop. According to blockchain tracker Lookonchain, the transfer took place only minutes before Ethereum’s sentiment readings returned to highly optimistic levels. Such whale activity often attracts market attention, especially when tied to long periods of dormancy.
This development comes while Ethereum maintains key levels above $4,200, despite facing strong fluctuations in both sentiment and price. The movement of significant holdings may add further uncertainty to short-term expectations, especially with market participants closely following sentiment shifts.
Liquidation Data Shows Heavy Market Losses
Alongside sentiment swings and whale activity, liquidations have intensified across exchanges. Data from Coinalyze shows Ethereum liquidations totaling $225.3 million in the past 24 hours. Perpetual contracts accounted for $222.3 million, while futures contributed $3 million.
Long positions absorbed the largest share, with $192.4 million liquidated, compared to $32.9 million in short positions. Exchange breakdowns show Bybit at about $100 million, Binance at $50 million, OKX at $40 million, and Huobi at $20 million. Meanwhile, BitMEX and Bitfinex reported minimal impact.
