A dormant Ethereum whale has transferred 3,000 ETH worth $5.53 million to the Kraken exchange after three years. This transfer comes amidst Ethereum’s price consolidation around $1,843.33, raising concerns about potential selling pressure. The recent activity has increased Ethereum’s trading volume to $15.54 billion across major exchanges, indicating heightened market engagement.
In a notable event in the cryptocurrency world, a long-dormant Ethereum whale has awoken, moving 3,000 ETH (approximately $5.53 million) to the Kraken exchange after three years of inactivity. This transfer has fueled speculation around short-term market volatility and has occurred during a period when Ethereum’s price is consolidating around $1,843.33 according to CoinGecko.
The visible movement of such a significant amount of ETH has caught the attention of analysts, especially as this particular whale wallet, starting with 0xaDd, still holds an impressive 2,000 ETH valued at around $3.69 million. This remaining balance could indicate there might be more movement in the near future, potentially ramping up selling pressure in the coming days.
It’s worth noting that Arkham Intelligence confirmed these on-chain activities, providing a boost to the reliability of this information. However, CoinGecko tracked a lack of immediate price response following the transfer, highlighting that traders should remain vigilant for any potential ripple effects. Generally, large transactions like these are harbingers of market shifts, especially when connected to a significant exchange like Kraken.
Interestingly, the 3,000 ETH moved was previously staked for two years. The recent decision by the whale to unstake and transfer funds suggests a strategic realignment that signals a bearish sentiment about short-term price movements. Reports suggest that the whale incurred a loss of approximately $255,000, which could indicate their commitment to this new strategy despite market fluctuations.
Nonetheless, while these losses might seem counterintuitive, they do not necessarily point to immediate selling pressure. Kraken’s vast liquidity and robust trading features could be central to the whale’s plan, hinting at a more calculated repositioning in the evolving crypto market landscape. This also illustrates that even long-term holders remain agile, adapting to changing market conditions.
Ethereum’s price response has shown some resilience amid these swirling sell-off concerns. Despite the potential pressure, the price of Ethereum gained 2.20% in a day, reaching $1,848.71, thereby pushing its market cap to $223.2 billion. This suggests that investor interest persists even in the face of substantial whale activity which requires careful consideration from both retail and institutional players in the market.
On May 2, 2025, Ethereum’s trading volume surged by 3.97%, culminating in a figure of $15.54 billion across leading exchanges such as Binance, Kraken, and Coinbase. This uptick in activity likely correlates with the whale’s recent transfer, further signalling increased market engagement.
A similar incident from March 15, 2024, where 2,500 ETH was transferred to Binance, resulted in a 3.2% decrease in ETH’s price within 48 hours, as per Lookonchain’s assessment. As such, traders exploring strategies surrounding Ethereum for 2025 or examining the influence of whales on prices should revisit stop-loss settings near the $1,820 support mark based on TradingView analytics from May 2, 2025.
All in all, while the whale’s transfer could suggest short-term sell pressure, Ethereum seems to be weathering the storm well for now, but everyone’s watching closely.
