An Ether whale (eth), which celebrated the Token from its initial currency offer (ICO), waves on Monday, since it transferred to ETH million to Crypto Exchange Kraken, according to Blockchain Sleuth Spot in the chain.
The whale deposited 7,000 ETH, with a value of $ 13.8 million at the time of publication, to Kraken as the price of Token collapsed along with the broader market on the fears of recession of the United States. Ether collapsed at $ 1,760, reaching the lowest since October 2023, and for the last time he changed his hands to $ 1,900.
It is said that large entries in exchanges represent the intention of investors to liquidate the asset or deploy the same as margin/guarantee in derivatives trade. This often generates prices volatility.
The Ether Ico whale still has 30,070 ETH worth more than $ 50 million.
