After being idle for over six months, an Ethereum whale from the 2015 ICO made waves by transferring 7,000 ETH, worth $24.28M, to the Kraken exchange.
This move is their first activity in 209 days. The whale still holds about 40,000 ETH, valued at around $139.5M.
Whales hold a big influence on market dynamics. Transfers to large exchanges frequently signal potential sell intentions or future trading plans. This also influences market sentiment and price.
In a parallel event, the US government conducted another significant cryptocurrency movement. A government-controlled wallet transferred 3,375 ETH, or $11.75M, to an undisclosed address. This address is associated with seized assets from a well-known fraud case involving Estonian crypto businesses.
This transaction adds to the US government's ongoing strategy of managing or liquidating money. As private and governmental entities play with their holdings, their decisions have a substantial impact on bitcoin market liquidity and stability.
