Whale Transfers $90 Million Worth of ETH to Kraken, Triggering Price Downward Pressure

Dormant for half a decade, the whale's transfer of almost $90 million to Kraken has raised worries about a potential sell-off impacting ETH.

Whale Transfers $90 Million Worth Of Eth To Kraken, Triggering Price Downward Pressure_65b9714416cdb.webp

Concerns Rise as Dormant Ethereum Whale Transfers $90 Million to Kraken Exchange

A significant event caught the attention of the cryptocurrency community this week, as a long-dormant Ethereum whale, inactive for over five years, suddenly moved almost $90 million worth of ETH to the Kraken exchange. The revelation, first brought to light by Lookonchain, has sparked worries among investors about a potential sell-off that could exert substantial downward pressure on the value of the second-largest cryptocurrency, Ethereum, which recently experienced a test at the $2,200 mark.

The whale’s prolonged inactivity has intensified concerns, raising suspicions that it may be positioning itself for a sizable sell-off. The transaction involved the deposit of 39,260 ether to Kraken during the Asian morning hours. Notably, this wallet had previously received a massive sum of 47,260 ether in a single transaction back in 2017, valued at over $11 million.

What adds to the unease is the absence of indications linking the wallet to an exchange’s cold storage. However, a more in-depth analysis conducted by Arkham has proposed a potential connection between one of the transactions and a trading firm named Cumberland. Cumberland is known as a crypto trading firm and liquidity provider catering to institutional clients, introducing a layer of complexity to the situation.

As the crypto community watches the market closely, the sudden activity of this dormant whale has stirred speculation and ignited concerns about the immediate future of Ethereum’s price. Traders and investors are bracing for potential volatility as they await further developments and insights into the motives behind this substantial movement in the cryptocurrency space.

Potential Impact of Sell-Off on ETH: Analyzing Kraken’s Market Depth

As of the latest data on Tuesday morning, Kraken’s market depth for ETH trading pairs has surpassed $5 million. In the event that the dormant whale executes a substantial buy or sell order within this range, it could wield influence over the market, causing a notable shift of at least 2% in either direction.

The timing of this significant movement is noteworthy, given the recent surge in whale activity amidst bullish indications in the broader crypto market. Beyond Bitcoin, numerous altcoins have displayed impressive performance in the third quarter. Notably, tokens like XRP, LINK, and SOL experienced substantial price gains in November, showcasing resilience and growth even as Bitcoin’s dominance weakened.

whale transfers 90 million worth of eth to kraken triggering price downward pressure 65b971441bac5

As the market observes heightened whale activity, the motives behind such large transactions become a subject of speculation. While some whales may be capitalizing on profits, others might be strategically positioning themselves for a potential altcoin season.

Related: It’s “Not Too Late” To Buy Ethereum, Here’s Why

Notably, a prominent crypto analyst has identified a Golden Cross, a historically bullish pattern that has coincided with previous altcoin rallies, adding to the intrigue surrounding the market dynamics in the coming weeks. Investors and analysts alike remain attentive to these developments, anticipating potential shifts in the crypto landscape and preparing for the impact on Ethereum and other altcoins.

(100 votes)

5.0/5

(100 votes)

Latest

Whales Dump Xrp Can Ripple Still Aim For The $5 Breakout

News | Altcoin | Editor Choice

Whales Dump XRP: Can Ripple Still Aim for the $5 Breakout?

XRP faces a defining moment as whales unleash massive sell-offs, leaving investors anxious over whether the token will rocket to $5 or crash back down to $2.

Bnb Surges After Trump Pardons Cz, Traders Shout “up Only”

News | Altcoin | Editor Choice

BNB Surges After Trump Pardons CZ, Traders Shout “Up Only”

BNB’s price surged right after U.S. President Donald Trump pardoned Binance founder Changpeng Zhao, fueling a wave of excitement and speculation that the long-awaited “altcoin season” may be about to begin.

Satoshi Era Bitcoin Whale Awakens After 14 Years

News | Bitcoin | Editor Choice

Satoshi-Era Bitcoin Whale Awakens After 14 Years

A “Satoshi-era” Bitcoin whale has suddenly awakened after more than 14 years of silence, sparking a wave of speculation about the real motive behind its move of 150 BTC worth tens of millions of dollars.

Bunni Dex Shuts Down After $8.4 Million Hack

News | Altcoin | Editor Choice

Bunni DEX Shuts Down After $8.4 Million Hack

After suffering a devastating $8.4 million hack, decentralized exchange protocol Bunni DEX has officially announced its shutdown. This marks the second crypto project to fold in October, following Kadena Organization’s recent decision to halt operations amid mounting difficulties. The $8.4 Million Exploit: How It Happened The attack occurred on September 2, when a hacker exploited

The Crypto Etf Wave Hits, Over 200 Funds Set To Launch Soon

News | Editor Choice | Policy & Regulations

The Crypto ETF Wave Hits, Over 200 Funds Set to Launch Soon

Crypto ETF Explosion: The market is on the verge of a massive wave of investment products, with 155 ETF filings currently awaiting approval — spanning 35 digital assets from Bitcoin and Ethereum to even political meme coins.

Screenshot 2025 10 20 091338