Recent data shared by the @OnchainDataNerd analytics account has shed light on significant crypto movements, particularly involving an ancient Ethereum wallet executing a substantial transaction, funneling millions in ETH to the prominent U.S.-based exchange, Coinbase (NASDAQ: COIN).
This latest transaction, alongside other notable ETH transfers to various major exchanges, has ignited speculation within the crypto community, hinting at a potential upcoming sell-off.
The ancient Ethereum wallet in question acquired 12,427 ETH on Poloniex at an average price of $11. Remarkably, it is now divesting 4,153 ETH at a staggering average price of $2,984 per coin, reflecting an astonishing growth of 27,027.27%. The value of the ETH sent to Coinbase now exceeds $12 million in fiat currency.
Another long-standing whale recently moved 614 ETH to Kraken, having initially purchased the cryptocurrency five years ago at an average price of $195. The ETH transferred to the exchange is currently valued at $1.79 million. Notably, this whale retains 1,329 ETH in their cryptocurrency wallet, valued at nearly $4 million.
Further amplifying market speculation are the actions of three distinct unidentified whales, who collectively transferred 30,020 ETH, 11,192 ETH, and 11,207 ETH to a centralized crypto exchange. While the first transaction was directed to Coinbase Institutional, the total value of these Ethereum transactions amounts to $86,959,077; $32,273,912; and $32,683,631, respectively.
Additionally, attention has turned to Satoshi-era Bitcoin wallets experiencing a resurgence in activity. Each of these wallets, housing 500 Bitcoins, is currently evaluated at approximately $30,514,975 and $30,494,084, marking a remarkable potential profit surge of 49,274%.
These developments have prompted heightened scrutiny within the cryptocurrency community, with analysts closely monitoring market dynamics amidst the influx of large transactions, anticipating potential implications for Ethereum and Bitcoin price movements in the near term.
