Whale Activity Resurfaces: 1,000 ETH Deposited into Kraken After 10 Months of Dormancy

On May 23rd, COINOTAG reported a significant movement in the cryptocurrency market, highlighting a whale address that has recently reactivated after a 10-month dormancy. This wallet executed a deposit of 1,000 ETH, equivalent to approximately $2.65 million, into the Kraken exchange. The strategic timing of this transaction aligns with ongoing market trends, reflecting increased interest among large investors. Furthermore, the wallet in question retains a substantial balance of 1,500 ETH, which translates to a current value of around $4 million. Such actions by crypto whales can significantly influence market dynamics and investor sentiment, underscoring the importance of tracking large wallet activities when analyzing market shifts.