Ethereum Whales Are Making Big Moves — Here’s What It Might Mean
Two big Ethereum holders have made some noise recently, and people in the crypto space are starting to take notice.
Quick overview
- Two significant Ethereum holders have made notable transactions, indicating potential shifts in market sentiment.
- An anonymous address withdrew 2,850 ETH from Kraken, suggesting long-term confidence and reduced sell-side pressure.
- Another early investor has reversed their selling trend, acquiring 13,600 ETH, possibly due to optimism around Ethereum's future developments.
- These actions reflect that major holders are not retreating but are instead showing renewed interest in Ethereum.
Two big Ethereum holders have made some noise recently, and people in the crypto space are starting to take notice.
These might not just be random moves but they could be hinting at a change in how the market is feeling right now.
First, an anonymous address identified as 0x1c11 withdrew 2,850 ETH (about $10 million) from Kraken in a single transaction. That wallet now holds over 18,000 ETH, valued at more than $60 million. On-chain analysts point out that pulling this much ETH off a centralized exchange usually suggests long-term confidence. Instead of keeping the tokens ready for trade, the whale moved them to what’s likely a self-custodied wallet or possibly for staking, DeFi activity, or simple cold storage. Whatever the reason, it reduces sell-side pressure and implies this holder is in no rush to cash out.
At the same time, a different kind of move is catching attention. One early Ethereum investor, someone who’s mostly been selling over the past year has suddenly flipped their strategy. Over the last few weeks, the wallet picked up 13,600 ETH, worth roughly $47 million. It’s the first big buying streak from this address in a couple of years, which stands out even more knowing they originally bought in at just 31 cents per ETH.
Nobody knows for sure why the shift happened, but people are guessing it might have something to do with growing excitement around a possible Ethereum ETF, or confidence in how the network’s DeFi and Layer 2 projects are shaping up.Some also cite changing macroeconomic conditions that may be making risk assets like ETH more attractive again.
Together, these moves show two whales, one securing long-held ETH, the other stepping back into accumulation mode both seemingly betting on Ethereum’s future. While it’s risky to read too much into any single wallet’s activity, such large-scale moves do send signals. At the very least, they suggest that some of Ethereum’s earliest and biggest holders aren’t backing away they’re leaning in.
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