Ethereum Whales Move 11,959 ETH Worth $30.07 Million

Key Insights

• Ethereum ICO participants sells 10,195 ETH worth $25.67 million

• Dormant whale sells 1.764 ETH after 8 years of dormancy

Dormant Ethereum Whales Offload 11,959 ETH

As market struggles amid price stagnation, Ethereum whales are becoming impatient ad rapidly closing their positions as reported earlier by EMCryptohub.

According to Onchain tracker Onchain Lens, dormant whales have returned in the market to sell their holdings.

10,190 ETH valued at $25.64 million was recently moved from the StakeWise Genesis Vault to a passive Uniswap V3 liquidity pool, highlighting notable activity by an ETH ICO whale in the crypto market.

As per On-chain data, one Ethereum who was an ICO participant has returned after three years and is selling. This whale has unstaked 10,195 ETH worth $25.67 million and deposited the whole of it into Kraken. Initially, the whale received 50,000 ETH during the ICO when it was worth $15,550. After receiving these tokens, the whale has been strategically offloading. Since 2021, they have not sold , and now, they have sold their last holdings.

Ethereum whale moves over $4 million to Kraken in two large transactions, while also receiving a notable amount from Bittrex eight years ago.

After this whale offloaded the tokens, another whale followed suit. A dormant whale has woken up after 8 years and deposited 1,764 ETH worth $4.4 million into Kraken making a profit of $3.93 million. The whale had initially received these ETH tokens for $469k from Bitfinex 8 years ago. In total, these two dormant whales have sold 11,959 ETH tokens worth $30.07 million.

Any Implication on ETH price movement?

Such a massive whale outflow suggest rising lack of confidence among long term holders. Often, a surge in selling activity signals building bearish sentiments in the market. A continuation of such selling activities risk a higher downward pressure on ETH.

Ethereum daily price chart shows recent fluctuations, with ETH currently trading at $2,515.38. Key support and resistance levels are indicated, highlighting a volatile market trajectory over recent months.

This continued selling activity have had negative impact on ETH price movement. Ethereum has struggled to maintain an upward momentum. Even after reaching $2.7k days ago, the altcoin has faced rejected resulting to sharp decline. On daily charts, ETH is also down 1.89% trading $2510 as of this writing.

If the trend continues, ETH risks a drop to $2.2k or even a further dip below $2k for the first time since breaching it. However, if buyers can enter the market and absorb the selling pressure, ETH can recover and rally towards $3k for the first time since February 2025.