Kraken Observes Ethereum Whale Activity as ETH Supply Tightens and Altcoin Inflows Surge

An early ethereum investor from the 2014 ICO era has made headlines by transferring 2,300 ETH (worth $9.9 million) this week, drawing significant attention to whale activity amidst a tightening ETH supply. The same wallet still retains 1,623 ETH ($6.99 million) from an initial purchase of 20,000 ETH during Ethereum's genesis sale, which cost just $6,200. This movement comes as market dynamics indicate a notable rotation of capital into altcoins, with Ethereum now outpacing Bitcoin in terms of inflows. Analysts are closely monitoring ETH's breakout, suggesting a bullish trend for the cryptocurrency. The timing of these transactions aligns with growing interest in altcoins and Ethereum's strengthening position in the market. Platforms like Kraken are likely to see increased activity as traders react to these developments.

Ethereum ICO Investor Moves $9.9M as ETH Supply Tightens

An early Ethereum investor from the 2014 ICO era transferred 2,300 ETH ($9.9 million) this week, drawing attention to whale activity amid tightening supply. The same wallet still holds 1,623 ETH ($6.99 million) from an initial purchase of 20,000 ETH for just $6,200 during Ethereum's genesis sale.

Market dynamics show capital rotating into altcoins, with Ethereum now outpacing Bitcoin in inflows. Analysts interpret ETH's breakout from a multi-year symmetrical triangle as bullish, with price targets reaching $15,000—a potential 372% surge. Institutional interest grows as treasury allocations and ETF speculation fuel momentum.

Kraken saw over $16 million in ETH deposits from large holders following the technical breakout. Michaël van de Poppe anticipates volatility, predicting bitcoin could test $120K before triggering altcoin corrections. Meanwhile, Ethereum's relative strength may create space for smaller altcoins to rally.

Ethereum ICO Participant Nets $9.9 Million from Strategic ETH Sales

An early Ethereum investor has capitalized on the cryptocurrency's recent surge, selling 2,300 ETH for approximately $9.9 million via Kraken exchange. The transaction, recorded by Lookonchain, leaves the address with a remaining balance of 1,623 ETH—a fraction of the original 20,000 ETH acquired during Ethereum's 2014 ICO for just $6,200.

The investor's strategy reveals disciplined profit-taking: previous sales include 3,000 ETH in November 2023 and smaller batches in subsequent months. Ethereum's price ascent past $4,300—a level unseen since December 2021—provided the backdrop for this latest move, underscoring how early believers continue to reap outsized rewards.