Whale Moves 20,000 ETH to Kraken Amidst $85M Profit Surge in Ethereum Holdings

On January 16, **COINOTAG News** reported significant activity in the **Ethereum** market, as an institutional investor transferred **20,000 ETH** valued at approximately **$67.59 million** to **Kraken**. This address is notable for its past transaction history, having withdrawn a substantial **120,874 ETH** (~**$199.1 million**) from the same exchange in September 2022, at a time when **ETH** was priced at **$1,647**. Over the last eight months, this entity has consistently moved a total of **50,000 ETH** (~**$167.4 million**) to **Kraken**, achieving an impressive average sale price of **$3,348** which resulted in an estimated profit of **$85.05 million**. Currently, the address retains a significant balance of **70,874 ETH**, equivalent to roughly **$239.79 million**, underscoring its capacity for substantial market influence.