Ethereum ICO wallet offloads $19 million in ETH to Kraken amid market dip

An early Ethereum initial coin offering participant sent another 4,460 ether to Kraken, worth roughly $19 million on Monday, as the wallet continued offloading into a softer market.

According to Arkham data, the address beginning "0x815" has deposited 9,803 ETH, valued at about $43.9 million, to crypto exchanges over the past seven days. The wallet still holds 197 ETH, around $843,900 at current prices.

Blockchain trackers like OnchainLens have previously flagged a string of transfers from the same address in recent days, including 2,000 ETH ($8.6 million), 1,162 ETH ($5.2 million), and 1,060 ETH ($5.1 million) sent to trading venues while ether approached an all-time high last week. Large, older wallets moving coins onto exchanges are often read as potential sell signals, though flows do not guarantee immediate market sales.

A separate ICO wallet movement was also observed over the weekend, involving older coins acquired initially for a fraction of current prices. As The Block reported, an address moved $1.5 million in ETH originally bought for $104.

Ether slipped in the past day alongside a broader risk pullback, down over 6% in the last 24 hours, The Block’s price page shows.

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