TL;DR
- Fresh transfer: An Ethereum ICO era address sent 1,060 ETH worth just over $5 million to Kraken on Thursday, the fourth straight day of deposits that bring weekly exchange transfers to about $24.1 million and signal methodical profit taking into strength.
- Who is selling: The seller received 100,000 ETH in 2014 for roughly $31,100 and still holds about 4,657 ETH in the source wallet, with more than 50,000 ETH spread across other addresses.
- Wider context: Another ICO participant moved 2,300 ETH worth around $9.9 million to Kraken as Ethereum trades near $4,718 and within 3% of its record, with traders watching exchange net flows.
An early Ethereum investor sent another multimillion-dollar tranche of ETH to Kraken, extending a weeklong selling spree as prices hover near record highs. On-chain data shows a fresh 1,060 ETH, worth just over $5 million, hitting a Kraken deposit address on Thursday. It is the fourth straight day of transfers and pushes the whale’s weekly exchange deposits above $24 million. Such stepwise sales frequently coincide with the strength of resistance as early holders trim positions and test liquidity on centralized venues.
Latest transfers and weekly tally
The address starting with 0x815 kicked off the week by transferring 2,000 ETH on Monday, which is approximately $8.6 million. That was followed by 1,162 ETH on Tuesday and 1,121 ETH on Wednesday, each worth a little over 5 million at the time. On Thursday, 1,060 ETH was deposited, marking the fourth straight deposit, which totals about $24.1 million sent to Kraken this week.
ICO haul and remaining holdings
The seller is an Ethereum initial coin offering participant who received 100,000 ETH in 2014 for about $31,100. Despite this week’s activity, the wallet still holds around 4,657 ETH, worth nearly $21.9 million. On-chain analysts note the investor controls more than 50,000 ETH across multiple addresses, suggesting ample dry powder remains even after recent transfers.
Other whale moves and price backdrop
The selling is not isolated. Earlier in the week, another ICO era address moved 2,300 ETH, about $9.9 million, to Kraken, leaving that wallet with roughly 1,623 ETH. Meanwhile, Ethereum is trading near $4,718, up about 23% in the past seven days and within 3% of its all-time high near $4,868.
Market implications and what to watch
Large deposits to exchanges often precede selling, yet broad market context matters. As long-term holders realize profits, other funds and institutions have been accumulating on dips, softening the net impact of outflows from older wallets. Traders are watching exchange net flows, order book depth, and spot ETF activity to gauge whether supply overwhelms demand.
If price strength persists, remaining ICO era reserves could continue to trickle into liquidity. Still, exchange inflows can be offset by buy programs, including systematic bids and discretionary accumulation by treasuries and trading firms.
