An inactive Ethereum whale re-entered the trading scene and withdrew $15 million worth of ETH in just one day. Considering the slow price rise of Ethereum over the past few months and the sudden appearance of whales despite being dormant for several months, insider trading.
Dormant Ethereum Whale Moves $15 Million ETH
A sudden $15.14 million Ethereum transaction attracted the attention of the cryptocurrency market. insider knowledge Or simply strategic positioning. According to data from blockchain analytics platform Onchain Lens, movement Approximately 5,099 ETH from Kraken’s dormant wallet address became active on Thursday, January 22nd.
According to on-chain records, the whale identified with address ‘0x761F2F’ remains to this day. Not active in the market Over 3 months. The last few times whales were active in the markets was when they executed a series of stablecoin and HYPE trades. The anonymous whale initiated multi-million dollar trades in UETH, USDT, and USDC. Meanwhile, HYPE transactions were primarily token burns.
Arkham Intelligence After Withdrawing 5,099 ETH From Kraken reported The whale transferred ETH to Lido Finance and converted it to 5,100 STETH. There is currently no evidence of insider trading, but it does raise questions about the timing of the transactions. This is especially true considering Ethereum’s quiet price action and upward trend over the past few months. Selling pressure from large holders.
Cryptocurrency insider trading typically occurs when individuals with non-public information make large trades ahead of major market events that can impact market prices. today, No Ethereum price surgeThere is also no major news that could suddenly influence the movement. Actually, ETH is continues to trade lowIt has decreased by about 1.7% in the last 24 hours. Daily trading volume also decreased by 34.89%, indicating a decline in confidence among traders and investors.
Whales Stay Long in Ethereum
dormant Large players are suddenly re-entering the market.Some active whales remain optimistic about Ethereum’s long-term prospects despite its continued downward trend. According to renowned market analyst Max Crypto, an anonymous whale has just opened Take a $202 million long position in ETH with 15x leverage.
Considering the recent volatility of Ethereum, the transaction volume is enormous. Shows strong confidence in . Cryptocurrency future price movements There is potential to overcome the ongoing downward trend. Specifically, the liquidation price for the position is $2,495. This means that if ETH falls to that level, the trade will be forced to close by the cryptocurrency exchange, resulting in significant losses for the whales.
Market participants are closely watching the whales’ positions. calling It’s a brave but confusing bet. Others even guess The position may have been taken based on inside information, sparking discussion about potential market movements and Potential for a bullish turn in ETH.
Featured image created with Dall.E, chart from Tradingview.com
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