Whale Moves 6,250 ETH to Kraken: A $20 Million Sale After 3 Years

On November 14th, COINOTAG reported a significant movement in the Ethereum market as tracked by Chainalysis. A notable whale investor, who previously acquired 24,957 ETH at an average cost of $10.35 back in early 2017, has recently offloaded a substantial portion of that holding. Within the last half hour, this investor transferred 6,250 ETH, valued at approximately $20 million, to the cryptocurrency exchange Kraken.

This transaction marks a pivotal moment, as it represents one of the most substantial trades executed in the current market landscape. Such actions by large holders can impact market sentiment and pricing significantly, drawing attention from traders and analysts alike. Investors are keenly watching the ripple effects of this sale and how it might influence ETH‘s price trajectory moving forward.