Markets, Ethereum, Ether, Blockchain Large motion of cash to exchanges usually breeds value volatility. 

An ether (ETH) whale, who has held the token since its preliminary coin providing (ICO), made waves on Monday because it moved ETH price hundreds of thousands to crypto alternate Kraken, in response to blockchain sleuth Spot on Chain.

The whale deposited 7,000 ETH, price $13.8 million at press time, to Kraken because the token’s value plummeted together with the broader market on U.S. recession fears. Ether tanked to $1,760, reaching the bottom since October 2023, and final modified palms at $1,900.

Large inflows into exchanges are mentioned to signify buyers’ intention to liquidate the asset or deploy the identical as margin/collateral in derivatives buying and selling. This usually breeds value volatility.

The ether ICO whale nonetheless holds 30,070 ETH price over $50 million.

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