Yesterday, the cryptocurrency market saw a significant drop in prices, accompanied by activity from whales who were prominent during the ICO era. One such whale, who received 67,000 Ethereum (ETH) during an initial coin offering in 2015, made a massive transfer of 15,000 ETH to the Kraken exchange in a single transaction.
Chinese crypto journalist Colin Wu reported on this transaction, which took place on June 7, 2024. The whale address, which originally received 200,000 ETH in the Ethereum Genesis block, now holds around 41,000 ETH. This recent transfer amounted to roughly $56.1 million, making it the third transaction from this account since 2022.
In addition to this transfer, the account has previously sent over 150,000 ETH to centralized exchanges between 2020 and 2021, totaling over $553 million. It currently holds $152.3 million worth of ETH available for selling, according to public explorer data.
Another notable event in the cryptocurrency market was the liquidation of $50 million in Ethereum (ETH) long positions within a 24-hour period. This resulted in significant losses for traders, with Coinglass data reporting over $50 million lost in short positions and $5 million in long positions.
Following these developments, Ethereum (ETH) is currently trading at $3,694.04, marking a 2.89% decrease in value over the last 24 hours.