An early Ethereum (ETH) adopter recently deposited 4,500 ETH (roughly $20.4 million) into the Kraken exchange.
Over the past four months, the wallet has sent a total of $23.4 million to various exchanges.
The sudden rush in activity comes after two years of inactivity amid the recent market moves.
Following the recent transfers, the wallet continues to hold a total of $13.8 million.$4,610
Following the deposits, the wallet continues to hold a total of $13.8 million worth of ETH.
Earlier today, the price of ETH spiked to an intraday high of $4,610, reaching the highest level in weeks.
Strong institutional demand
Meanwhile, the flagship altcoin continues to enjoy impressive institutional demand.
Over the past week, it attracted a total of $1.29 billion worth of net flows.
Source: https://u.today/ethereum-og-deposits-204-million-to-kraken