Ethereum Whale Resurfaces: Moves $20.61M in ETH to Binance After 2-Year Silence
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An Ethereum whale has transferred 12,087 ETH to Binance after a two-year dormancy period.
The same whale withdrew 52,000 ETH from Kraken between 2018 and 2019.
The account also moved 12,715 ETH back to Kraken over the course of two years, with the potential for a massive 804% gain.
In a surprising move that has caught the eye of Ethereum investors and analysts, a dormant Ethereum whale account has reactivated after two years of silence. The whale moved a jaw-dropping 12,087 ETH (worth approximately $20.61 million) to Binance in two separate transactions today.
Previously, the same account had withdrawn 52,000 ETH from Kraken at an average price of $110 between December 2018 and January 2019. The two-year hiatus since this withdrawal had made it seem like this was just another inactive whale account.
The intrigue deepens when one looks at another set of transactions carried out by this Ethereum whale. Between July 2019 and August 2021, the account transferred 12,715 ETH back to Kraken at an average price of $1,911 per ETH. If we were to sell at this price, a whopping 804% gain, amounting to $46.15 million, could be realized.
Such massive and calculated moves from a dormant account are unusual and have led to various speculations. Is this an indication of an impending market move? Could this whale be getting ready to cash out, or is this a strategic shift of assets in anticipation of future market conditions?
Whale movements like these have historically impacted market sentiment and often precede significant price actions. Traders and investors should keep a close watch on market conditions following this event to anticipate any potential market shifts.
In summary, the reappearance of this Ethereum whale and the significant transactions made today are likely to stir discussions and speculations in the Ethereum community. Whether this leads to market volatility or heralds a new era of whale activity remains to be seen, but it’s undeniable that this account has reignited interest in Ethereum’s market dynamics.
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