U.Today - The Ethereum whale who participated in the Ethereum ICO back in 2015 and bought 254,900 ETH has just transferred 7,000 ETH to Kraken exchange, despite being anemic for 209 days. For now, the whale still holds an enormous $139 million, making them one of the most successful ETH investors out there.
After acquiring their substantial ETH holdings at an ICO price of only $0.311 per ETH, this whale has now taken a big step forward by moving 7,000 ETH, or roughly $24.28 million, to the Kraken exchange. The whale's prolonged period of inactivity, which lasted for more than half a year, is what attracted the attention to the transaction. This whale still has 40,069 ETH in its possession, which is currently worth about $139 million.
The remarkable return on investment attained by early Ethereum adopters is demonstrated by this holding, which also emphasizes the significant influence such large holders can have on the market when they choose to transfer their assets. Such whale movements frequently give rise to conjecture and anxiety in the cryptocurrency world. Huge transfers to exchanges occasionally come before sizable sell-offs, which could put pressure on the asset's price to decline.
Staking lending or even using assets as leverage for other investments are some other strategic reasons why the whale might be so positioned. The fact that this whale's address was reactivated after a protracted period of inactivity further emphasizes how erratic the cryptocurrency market is.
Long-term investors have the ability to take long pauses before acting abruptly to affect sentiment and price movements on the market. Furthermore, the whale's choice to sell right now could be tied to a derisking strategy.