Ethereum whales continue to sell off — Kraken sells off another 20,000 ETH

Since the beginning of this year, whales have continued to sell off large amounts of ETH.

The Spotonchain analysis account on the X social media network found that a giant Ethereum whale deposited a large amount of Ethereum into Kraken, a major US cryptocurrency exchange. In general, this "whale" sells a large amount of ETH every time the price starts to plummet. Data shared by Spotonchain shows that this holder sold a large amount of ETH last year and in 2023.

The price fell by 12.58%, and the whale sold 20,000 ETH.

The above data source shows that this large Ethereum holder deposited 20,000 ETH to Kraken. At the time of the transaction, the value of this ETH was about 32.4 million US dollars.

According to the same source, earlier this year, in mid-January, the whale also transferred 20,000 ETH to Kraken, but at that time the value of this ETH was 67.5 million US dollars. Between September 1 and 9, 2022, the investor accumulated 120,874 ETH, worth about $199 million at the time, and since then has gradually sold these ETH at a price of about 20,000 ETH every time the price drops sharply. However, while this whale has been selling, obviously pessimistic about the long-term outlook, other market participants are accumulating ETH.