On March 2nd, COINOTAG News reported that the notorious Ethereum ICO whale, known for holding 20,000 coins, has resumed activity by transferring 1,024 ETH to Kraken, only six days after its previous transaction. This latest move raises speculation of a potential sale, considering the whale’s original cost basis was as low as $0.31. Should this extensive holding be liquidated, it could yield a remarkable profit of approximately $2.296 million.
In total, during the last week, this entity has divested 7,070 ETH, amounting to a cumulative value of $18.63 million. This significant activity within the Ethereum market underscores the complex dynamics of whale movements and their impact on the value of cryptocurrencies. Investors remain on alert as such large transfers can indicate shifting market conditions and influence trading strategies going forward.
Source: https://en.coinotag.com/breakingnews/ethereum-whale-moves-1024-eth-deposited-to-kraken-amid-2-29-million-profit-potential/