Ethereum Whales Make Significant Moves in the Market
Notable transactions are taking place in the Ethereum market, despite a stagnant September. Whale Alert recently reported a major move from a long-dormant Ethereum ICO wallet, following other substantial transfers by key players such as Ethereum co-founder Vitalik Buterin.
On September 20, an Ethereum ICO wallet associated with core developer Danno Ferrin became active after eight years of inactivity. The wallet transferred 192.2 ETH (approximately $313.2k) to Coinbase. The transaction was broken down into two parts: 32.1 ETH and 160.1 ETH. While the transfer may seem modest in size, it adds to the growing list of transactions from early Ethereum participants.
Other Noteworthy Transfers
According to data shared by Lookonchain, there have been other significant transfers in the Ethereum market. On September 18, an ICO participant moved 6k ETH (worth around $9.96 million) to Kraken. The following day, another whale transferred 10k ETH (valued at approximately $16.5 million). This whale had also moved similar amounts to Binance, OKX, and KuCoin just four days earlier after two years of dormancy.
Vitalik Buterin also made moves on September 19, transferring 300 ETH (around $490k) to Kraken. Another dormant wallet sold 2,591 ETH for $4.18 million in stablecoins. In total, ICO participants and Buterin have moved around $31 million worth of ETH in the past two days.
Market Impact
Despite these high-profile transactions, the market has not reacted strongly. Currently, Ethereum is trading at $1618.3239 with a 24-hour trading volume of $4,120,380,992. The asset has experienced a 1.49% drop in the last 24 hours. While these transfers have captured the attention of the crypto community, their impact on Ethereum’s price is yet to be seen.
Hot Take: Ethereum Whales Make Waves with Noteworthy Transfers
Ethereum whales are making significant moves in the market, with long-dormant ICO wallets becoming active and notable players like Vitalik Buterin making transfers. While the size of some of these transactions may seem modest, they add to a growing list of moves from early Ethereum participants. However, despite the attention these transfers have garnered, the market has not reacted strongly. It remains to be seen how these transactions will ultimately impact Ethereum’s price.
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