A notable #Ethereum whale has made a surprising move, sending 711 ETH — worth approximately $3.17 million — to crypto exchange Kraken after remaining inactive for over a year.
On-chain data shows that just four minutes before this substantial deposit, the same wallet also sent a small 0.01 $ETH ($44.52) transaction to the same Kraken deposit address. While small in value, this initial transfer could have served as a test transaction before executing the larger move.
This wallet’s history reveals prior activity dating back one and two years, including deposits of 259.9 $ETH ($905.18K), 71.63 ETH ($151.93K), and several single $ETH transfers. The fact that this latest deposit follows a long period of dormancy is catching traders’ attention, as such movements can sometimes precede selling pressure.
Market watchers will note that large inflows to exchanges often increase liquidity and can put short-term pressure on prices. However, whether this whale intends to liquidate or reposition funds remains unclear. The timing, following a year of inactivity, adds to speculation around their next move, and the market will surely be watching Kraken closely for any follow-up activity.
#DeFiGetsGraded #CPIWatch #BTCOvertakesAmazon #BTCReclaims120K
