Ethereum Whale Deposit 1,763 ETH for Kraken, Face $648K Loss
One big Ethereum whale don end im seven-month break as e deposit 1,763 ETH for Kraken exchange, wey add big plenty liquidity. Dis whale transfer of 1,763 ETH na about $5.3 million on-chain and around $3.2 million for Kraken at dat time, but recent market weakness don push the position into one unrealized loss of about $648,000. Big ETH deposits for exchange dey always show say sell-offs dey come and fit change how trading go be. Traders suppose dey watch Kraken ETH order book and whale deposit patterns wella to sabi market feeling and make dem ready for any wahala wey fit come.
Bearish
Big ETH transfer dem go exchange often mean say sell-off fit happen, e fit make price drop small for short time. The unrealized loss show say the whale fit wan sell for falling market, and e fit cause more wahala for market. But, no immediate sell order dey make long-term view remain neutral, because only when dem really sell e dey affect supply and demand balance. Traders suppose dey watch order book and whale activities to sabi if the deposit go trigger big sell-off or ETH go just siddon, wey go stop long lasting fall.