An anonymous Ethereum whale address beginning with 0x08E deposited 1,250 ETH, worth about $3.14 million, to MAX Exchange around two hours ago after remaining dormant for five years. Arkham data shows the address received 1,500 ETH in September 2021, valued at about $4.74 million at the time, or approximately $3,159.27 per token. The address had not moved its ETH holdings after that receipt. Exchange deposits are commonly interpreted as potential selling intent; at ETH's reported price of $2,507.95, down 0.51%, selling the deposited tokens would represent a loss of more than 20% against the 2021 acquisition price.