Dormant Ethereum Whale Moves $13.8M to Kraken Amid Market Turmoil; ETH Hits Lowest Since October 2023

March 12, 2025
Dormant Ethereum Whale Moves $13.8M to Kraken Amid Market Turmoil; ETH Hits Lowest Since October 2023
  • A dormant Ethereum whale has recently transferred 7,000 ETH, valued at approximately $13.8 million, to Kraken as the price of ETH dropped to $1,760 amid ongoing market volatility.

  • Currently, Ethereum's trading price of $1,917 remains below its realized price of $2,058, resulting in a 7% unrealized loss for the average holder, a situation that historically signals capitulation zones.

  • Immediate support for ETH is identified at $1,592; breaking this level could result in substantial losses for approximately 4.80 million ETH.

  • Despite the whale's recent activity, they still retain 30,070 ETH, valued at over $50 million, indicating potential for further selling pressure.

  • This significant transaction coincided with fears of a U.S. recession, contributing to ether's price decline, which reached its lowest point since October 2023.

  • In the past 24 hours, over $110 million in ETH long positions were liquidated, and negative funding rates on major exchanges indicate a rise in short-selling activity.

  • Over the past week, ETH has experienced a 10.64% decline, making it the weakest performer among major cryptocurrencies.

  • The market value of Ethereum has decreased by $46 billion in just one week, with ETH falling below the $2,000 mark for the first time in two years.

  • A spike in dormant circulation of ETH suggests that long-term holders are beginning to sell off their assets, further contributing to the bearish sentiment in the market.

  • Following the whale's transaction, ether was last priced at $1,900, reflecting the ongoing volatility in the market.

  • Large amounts of cryptocurrency moving to exchanges are often interpreted as signals for potential liquidation or as collateral for derivatives trading, which can lead to increased price volatility.

  • However, some analysts suggest that this recent drop might present a 'dip-buying' opportunity, given the surging trading volume and the relative strength index (RSI) being in oversold territory.

Summary based on 2 sources


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