A whale that received 200,000 ETH during Ethereum’s 2015 genesis block has moved closer to exiting the market, transferring 3,370 ETH (worth $11.37 million) to Kraken.
According to crypto analyst EmberCN, whales transferred 48,687 Ethereum (ETH) to Kraken throughout 2024. The move was worth approximately $171.78 million with an average transfer price of $3,528.
With only 7,594 ETH ($25.72 million) left in their wallet, it is likely that the whale will complete its exit within one or two more sales.
Etherscan data shows a consistent pattern of large transfers throughout 2024:
- Dec 7: 4,453.3997 ETH
- November 25: 5,597.12775107 ETH
- November 13th: 5,707.96432246 ETH
- July 30: 9,756,742 ETH
This selling activity comes as Ethereum traded between $3,328.47 and $3,410.29 over the last 24 hours, with a weekly range of $3,239.45 and $3,512.12. The nature of these transfers suggests a carefully planned exit strategy from their Genesis block allocation.
The movement of early Ethereum investors has become more evident recently. In a separate but notable development, another ICO participant emerged from a 9.4-year dormancy in December.
