Ethereum ICO wallet offloads $19 million in ETH to Kraken amid market dip
Quick Take
- An early Ethereum ICO participant deposited 4,460 ETH, about $19 million, to Kraken, bringing seven-day exchange deposits from the wallet to 9,803 ETH worth $43.9 million.
- It follows a flurry of ETH whale movements despite Monday’s market slide.
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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