Ethereum Whale Activity

According to data provided by Spot On Chain, an Ethereum whale from the ICO era recently sent $12.1 million to the Kraken exchange.

The whale in question received a total of 107,000 ETH at Genesis, valued at roughly $243 million at current prices. These tokens initially cost just $31,000.

Ethereum (ETH) is currently the worst-performing cryptocurrency in the top 10, with a weekly drop of 3.2%, as reported by CoinGecko. It is down 1.2% over the past 24 hours.

The flagship altcoin remains down 50.5% from its all-time high achieved in late 2021, despite Bitcoin reaching a record peak in May.

Earlier this week, another Ethereum ICO whale deposited over $5 million worth of ETH into the Binance exchange after a decade of inactivity.