JAKARTA – Ethereum (ETH) is once again attracting attention. This time, a large number of crypto owners, commonly referred to as whales or posers, recently deposited 15,000 ETH into his Kraken crypto exchange. This whale deposit sparked speculation about the possibility of a major sell-off this week, ahead of the ETF's Ethereum spot decision on May 23rd, to be exact.
Last week, Ethereum prices rallied to $3,100, signaling optimism that could lead to further gains. However, recent activity from Ethereum whales could put short-term pressure on ETH prices.
Ethereum on-chain data reveals significant activity from long-term holders, aka Ethereum whales, and highlights some potential market shifts. The whale identified by wallet address 0x7f1 deposited 15,000 ETH worth over USD 45.98 million (approximately IDR 735 billion) on the Kraken exchange at a price of USD 3,065 (approximately IDR 49 million) per 1 ETH .
Interestingly, this same whale had previously withdrawn 120,874 ETH from Kraken in early September 2022 at an average price of USD 1,645 (approximately Rp 26.3 million). Currently, this whale holds 105,874 ETH worth USD 326 million (approximately Rp 5.2 trillion). The total profit was USD 173 million (approximately Rp 2.7 trillion), an impressive 87% profit.
According to market data from CoinGlass, interest in ETH decreased by just 1.55% and options trading volume decreased by a significant 51.55%. This change in trading activity can affect Ethereum price fluctuations.
Tags: Technology Asset Crypto Ethereum
