• Home 1
  • Privacy Policy
LSD News
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
LSD News
No Result
View All Result
Home Crypto News

Ethereum ICO Participant Moves $9.96 Million Of ETH To Kraken. Will He Sell?

by
September 20, 2023
in Crypto News
0
Ethereum ICO Participant Moves .96 Million Of ETH To Kraken. Will He Sell?
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


An Ethereum initial coin offering (ICO) participant and one of the earliest supporters of the smart contract platform has moved 6,000 ETH worth $9.96 million to Kraken, a cryptocurrency exchange, recent data from Lookonchain on September 18 reveals.

The unidentified whale received 254,908 ETH when each traded for 40.31 during the crowdfunding in 2014. This amount is currently worth over $466 million at spot rates.

ETH whale transfer: Etherscan

Ethereum Whale Transfers Over $9.96 Million To Kraken

The anonymous nature of public blockchains, including Ethereum, makes it harder to decipher the owner’s identity. Determining whether an entity or an individual controls the address is also more complex. 

Whale transfers to a crypto exchange are usually considered bearish since the ramp provides an easier swapping option for token holders to cash out. Typically, crypto whales have the potential to impact the market due to the sheer size of their holdings.

Accordingly, their trading decisions can influence prices, increasing volatility. Therefore, the recent deposit to Kraken may suggest that the whale plans to sell, taking a profit.

On the brighter side, the whale could be moving their coins via an intermediary, in this case, Kraken, before transferring them to other platforms like Rocket Pool or Lido Finance for staking. 

In the current proof-of-stake consensus algorithm used by Ethereum, whales can earn annual staking rewards if they lock at least 32 ETH. While the whale can set up a node and stake, liquidity staking providers like Rocket Pool allow users to stake coins and earn staking rewards using their infrastructure. 

As of September 18, there are over 804,000 validators, that is, users who have locked at least 32 ETH operating an Ethereum full node. Cumulatively, over 25.7 million ETH have been locked.

Validator count:Beacon.in
Validator count: Beacon.in

ETH Prices Recovering

As of this writing, the transfer on September 18 is amid the broader recovery in the crypto market. Of note, Ethereum (ETH) prices are up roughly 6% from September lows. Overall, supporters are bullish, expecting more growth in the days ahead.

The pump also means bulls have reversed some of the losses of September 11, and the current formation may anchor the next leg up that could propel the coin above $1,750, or August 29 highs, and later peel back sharp losses recorded on August 17. 

Ethereum price on September 18| Source: ETHUSDT On Binance, TradingView
Ethereum price on September 18| Source: ETHUSDT On Binance, TradingView

From the candlestick arrangement in the daily chart, ETH remains under pressure, dropping 23% from 2023 highs of around $2,140.

However, since bears didn’t reverse losses of the June to July leg up, buyers have a chance following the rejection of lower lows from around the 78.6% Fibonacci retracement level of the Q3 2023 trade range. Presently, the September and August 2023 lows remain critical support levels for ETH, with the retest of August 17 lows on September 11 causing concern for optimistic traders. 

Feature image from Canva, chart from TradingView



Tags: ETHEthereumICOKrakenMillionmovesParticipantSell
Previous Post

FDA declines to approve Neffy epinephrine nasal spray for severe allergic reactions

Next Post

White House no longer sending top officials to Detroit for UAW strike talks this week

Next Post
White House no longer sending top officials to Detroit for UAW strike talks this week

White House no longer sending top officials to Detroit for UAW strike talks this week

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 139 Followers
  • 23.9k Followers
  • 99 Subscribers
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Hawaii officials work to address mental health challenges facing wildfire survivors

Hawaii officials work to address mental health challenges facing wildfire survivors

August 17, 2023
Wegovy heart health data is promising — but insurers face long road, high cost to cover obesity drugs

Wegovy heart health data is promising — but insurers face long road, high cost to cover obesity drugs

August 10, 2023
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

July 16, 2023
Working-age Americans are struggling to pay for health care, even those with insurance, report finds

Working-age Americans are struggling to pay for health care, even those with insurance, report finds

October 28, 2023
Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

5
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

5
Why Cristiano Ronaldo’s move to Saudi Arabia means so much for the Gulf monarchy’s sporting ambitions | CNN

Why Cristiano Ronaldo’s move to Saudi Arabia means so much for the Gulf monarchy’s sporting ambitions | CNN

3
Georgia realtor receives invitation to play the Masters by mistake | CNN

Georgia realtor receives invitation to play the Masters by mistake | CNN

1
India rejects Chinas latest renaming of places in Arunachal border state

India rejects Chinas latest renaming of places in Arunachal border state

May 15, 2025
New York AG sues Capital One after Trump-led CFPB drops similar case

New York AG sues Capital One after Trump-led CFPB drops similar case

May 15, 2025
How do you know the day you become old? Warren Buffett says age, not strategy, drove surprise exit as Berkshire CEO

How do you know the day you become old? Warren Buffett says age, not strategy, drove surprise exit as Berkshire CEO

May 15, 2025
Airbnb’s new app for ‘services’ is getting shot down by critics — here’s why CEO Brian Chesky should be thrilled

Airbnb’s new app for ‘services’ is getting shot down by critics — here’s why CEO Brian Chesky should be thrilled

May 15, 2025

Recent News

India rejects Chinas latest renaming of places in Arunachal border state

India rejects Chinas latest renaming of places in Arunachal border state

May 15, 2025
New York AG sues Capital One after Trump-led CFPB drops similar case

New York AG sues Capital One after Trump-led CFPB drops similar case

May 15, 2025
How do you know the day you become old? Warren Buffett says age, not strategy, drove surprise exit as Berkshire CEO

How do you know the day you become old? Warren Buffett says age, not strategy, drove surprise exit as Berkshire CEO

May 15, 2025
Airbnb’s new app for ‘services’ is getting shot down by critics — here’s why CEO Brian Chesky should be thrilled

Airbnb’s new app for ‘services’ is getting shot down by critics — here’s why CEO Brian Chesky should be thrilled

May 15, 2025

We bring the latest news from all over the world and get all time updated you

Follow Us

Browse by Category

  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
  • Uncategorized

Recent News

India rejects Chinas latest renaming of places in Arunachal border state

India rejects Chinas latest renaming of places in Arunachal border state

May 15, 2025
New York AG sues Capital One after Trump-led CFPB drops similar case

New York AG sues Capital One after Trump-led CFPB drops similar case

May 15, 2025
No Result
View All Result
  • Home 1
  • Privacy Policy

© 2024 LSD News title="Jegtheme">Jegtheme.