Ethereum Whale Deposits 1,400 ETH to Kraken, Nets $102M
On August 24, on-chain data from Onchainlens revealed that an Ethereum whale deposited 1,400 ETH (≈$6.63M) to Kraken. This long-term holder initially bought 24,959 ETH nine years ago for just $258K via Kraken and ShapeShift, netting roughly $102M in profit to date. After the transfer, the whale still holds 13,477 ETH (≈$64.5M), plus 877 ETH in another wallet and 140 ETH staked with Everstake. While the Kraken deposit could signal upcoming selling pressure, the Ethereum whale’s intent remains unclear. Traders should track Ethereum whale movements, monitor Kraken order books and on-chain flows for signs of further whale activity and potential market impact.
Neutral
While the transfer of 1,400 ETH to Kraken could signal forthcoming selling pressure, the whale’s substantial remaining holdings and history of strategic profit-taking suggest no imminent full exit. The move may introduce short-term volatility, but the absence of clear sell signals and ongoing on-chain confidence in ETH point to a balanced market response. Traders should monitor for order book shifts, though the overall impact on Ethereum’s price is likely neutral.