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Dormant Whale Moves $7.89 Million in ETH to Kraken After Four Years

Lookonchain reports that a dormant Ethereum wallet transferred 1,757 ETH to Kraken, realizing a $3.88 million profit after four years of inactivity.

ETH

Summary

A dormant Ethereum whale has transferred 1,757 ETH, worth $7.89 million, to the Kraken exchange after four years of inactivity. The wallet realized a $3.88 million profit, according to blockchain analytics platform Lookonchain.

Terms & Concepts
  • Whale: A term used to describe an individual or entity that holds a large amount of cryptocurrency, often capable of influencing market prices.
  • ETH (Ethereum): The native cryptocurrency of the Ethereum network, used for transactions, staking, and powering decentralized applications.
  • Kraken: A major cryptocurrency exchange where users can trade a variety of digital assets including Bitcoin and Ethereum.