Ethereum Whale Moves $3.82 Million ETH to Kraken: Selling Pressure?

02 April, 2025, 06:30 AM

## Ethereum Whale Dumps Holdings on Kraken A long-term Ethereum (ETH) holder, dubbed a "whale" due to the size of their holdings, has deposited 2,001 ETH, worth approximately $3.82 million, into the Kraken exchange. This activity, reported by Lookonchain, has sparked discussion about potential selling pressure on ETH. ## Long-Term Holder Finally Capitulates? Interestingly, this address acquired 5,001 ETH back in 2017 for a mere $277 each (totaling $1.38 million). Despite ETH reaching an all-time high of $4,878, the whale refrained from depositing their holdings onto exchanges until recently, beginning about a month ago. This suggests a potential shift in sentiment or investment strategy. ## ETH Price Impact and Market Outlook Currently, Ethereum is trading around $1,860, down 2.39% according to CoinMarketCap. While this single whale's activity isn't solely responsible for the price fluctuation, it does contribute to increased selling pressure and warrants monitoring by traders and investors. Further whale movements could provide insight into the future direction of the ETH market. ```