Ethereum Prehistoric Whale Dumps! 1060 ETH Flowed to Kraken, What Hidden Cards Are Behind This Signal?
Just received an alert on the blockchain, the original address from the 2014 ETH ICO suddenly dumped 1060 ETH to Kraken! This type of zero-cost chip that has been dormant for ten years suddenly moving positions is never a small matter; I've been tracking on-chain data for 5 years, and such signals have never been trivial.
Deadly Signals, Faith-Level Chips Loosening
The ICO crowdfunding price back then was only $0.3, and now the profit exceeds 70,000 times. The core logic of the old whale cashing out is the shaking of the long-term narrative of ETH; even the earliest die-hard bulls are starting to take profits, and the cracks in market consensus are more dangerous than selling pressure.
Selling Pressure Impact, Emotional Capital
The selling pressure of 1060 ETH itself is not considered a huge amount, but the panic from the original whale dumping will amplify volatility, retail investors may interpret it as the bull market peaking, but if the buyer on Kraken is a staking institution hoarding, it may instead accelerate the concentration of chips towards long-term holders, turning into a bottom-building opportunity.
My Judgment from the On-Chain Tracker's Perspective
The old whale moving positions is a strong warning for a segmental adjustment but does not necessarily end the trend. Currently, the ETH staking rate is 28% with a compressed circulation, selling pressure will be partially hedged, but short-term fluctuations cannot be avoided. It is recommended to closely monitor ETH flows to Kraken; if the selling pressure leaves quickly and institutions take over, the adjustment is a buying point; if it lingers on the exchange, beware of a deeper pullback.
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