Whale Withdraws 1,000 ETH From Kraken, Bought 3,000 ETH at Average Price of $3,754

IconCryptoNewsTerminal Staff23 May, 2024

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Whale Withdraws 1,000 ETH From Kraken, Bought 3,000 ETH at Average Price of $3,754

A whale address has withdrawn 1,000 ETH from Kraken. The transaction was spotted by on-chain analyst ai_9684xtpa, who reported the activity via Twitter. In the past 18 hours, the address bought 3,000 ETH at an average price of $3,754. The whale's total holdings are now worth over $11 million. It is unclear why the whale withdrew 1,000 ETH from Kraken. However, the move could be seen as a sign that the whale is bullish on ETH and expects the price to continue to rise. ETH has been on a tear lately, reaching a new all-time high of $4,362 on May 12. The rally has been fueled by a number of factors, including increased institutional adoption and the launch of Ethereum 2.0. If the whale's bet is correct, ETH could continue to rise in the coming weeks and months.

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