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Kraken Sees Major Ethereum Movement as Decade-Old Whale Wallet Awakens

Kraken Sees Major Ethereum Movement as Decade-Old Whale Wallet Awakens

Published:
2025-06-30 13:10:33
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A dormant ethereum wallet from the 2014 ICO era has suddenly reactivated after ten years, transferring 1 ETH and revealing a staggering $2.4 million profit from an initial $310 investment. This development coincides with another whale depositing $12.1 million worth of ETH to Kraken, sparking speculation about potential sell pressure. Despite these significant movements, Ethereum continues to underperform compared to Bitcoin, even as institutional interest grows. Standard Chartered's recent analysis suggests mixed sentiments in the market, with some investors capitalizing on gains while others remain cautious. The reactivation of such an old wallet raises questions about whether this is an isolated event or the beginning of a broader trend among early ETH holders. Market watchers are closely monitoring Kraken's order books for signs of how these large movements might impact Ethereum's price action in the coming weeks.

Ethereum Breakout Imminent as Decade-Old Whale Wallet Reactivates

A dormant Ethereum wallet from the 2014 ICO era has resurfaced after ten years, transferring 1 ETH and revealing a staggering $2.4 million gain from an initial $310 investment. The movement coincides with another whale depositing $12.1 million worth of ETH to Kraken, raising concerns about potential sell pressure.

Despite accumulating interest, Ethereum continues to lag behind Bitcoin's performance. Standard Chartered has revised its 2025 price target for ETH downward to $4,000, reflecting cautious institutional sentiment.

Technical indicators suggest Ethereum is poised for a significant breakout, drawing attention from both traders and long-term holders. Market participants are closely watching for signs of sustained momentum following recent volatility.

Kraken Launches Tokenized U.S. Stocks with 24/5 Trading via xStocks

Kraken has introduced xStocks, a new platform offering tokenized versions of over 60 U.S. stocks and ETFs, including major names like Nvidia, Apple, and Tesla. These assets, backed 1:1 by real stocks and issued as SPL tokens, allow for 24/5 trading—though weekend trading remains in development. Traders can withdraw tokens to self-custody wallets, blending traditional finance with blockchain flexibility.

Regulatory constraints limit availability, excluding users from the U.S., Canada, the U.K., the EU, and Australia. Notably, xStocks tokens lack shareholder rights such as voting and dividends, highlighting a trade-off between accessibility and traditional equity benefits.

The move reflects a broader trend of crypto platforms integrating TradFi features, bridging gaps between digital and conventional markets while navigating technical and compliance hurdles.

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