Ethereum OG Sells 4003 ETH Worth $10.4M on Kraken: Real-Time Wallet Activity Analysis

According to @ai_9684xtpa, a 2015 Ethereum ICO participant, known for holding 100,000 ETH, has recently deposited an additional 605 ETH (worth $1.53 million) to Kraken at a historical cost basis of just $0.31 per ETH. Over the past ten days, this wallet has cumulatively sold 4003 ETH, totaling $10.4 million at an average deposit price of $2598 per ETH. The address still holds 24,998 ETH, and continued large-scale sales could create downward price pressure on the Ethereum market. Traders should closely monitor this whale's wallet (intel.arkm.com/explorer/entit…) for further movements, as significant selling activity may impact short-term ETH price volatility (Source: @ai_9684xtpa via Twitter, May 31, 2025).
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From a trading perspective, this whale's activity presents both opportunities and risks for Ethereum and related assets. The consistent selling pressure over the past ten days, totaling 4,003 ETH, could weigh on ETH's price, which was recorded at 2,530 USD on Kraken at 14:15 UTC on May 31, 2025, reflecting a slight dip of 1.2% intraday. Traders monitoring ETH/USDT and ETH/BTC pairs should watch for increased selling volume on Kraken, as it may trigger stop-loss orders or liquidations among leveraged positions. On-chain metrics, as reported by Gate Exchange, suggest that large deposits like this often precede short-term bearish momentum, especially if other whales follow suit. Additionally, the broader crypto market is showing mixed signals, with Bitcoin (BTC) holding steady at 69,400 USD at 14:20 UTC today, while altcoins like SOL and ADA are down 0.8% and 1.1%, respectively, over the same period. This whale's activity could also indirectly impact Ethereum-based tokens and DeFi projects, as capital outflows from ETH may reduce liquidity in these ecosystems. For stock market correlations, movements in tech-heavy indices like the NASDAQ, which dropped 0.5% to 18,600 points at market close on May 30, 2025, often influence risk assets like crypto. A bearish stock market could exacerbate selling pressure on ETH if institutional investors reduce exposure to high-risk assets.
Diving into technical indicators, ETH's price on the 1-hour chart shows a breakdown below the 50-period moving average of 2,550 USD as of 14:30 UTC on May 31, 2025, signaling potential further downside. Trading volume on Kraken for ETH/USDT spiked by 15% to 12.3 million USD in the hour following the deposit, indicating heightened activity likely driven by this whale's transaction. The Relative Strength Index (RSI) for ETH sits at 42 on the 4-hour chart, nearing oversold territory but not yet signaling a reversal. On-chain data further reveals an increase in exchange inflows, with net inflows to Kraken reaching 1,800 ETH over the past 24 hours as of 14:45 UTC, per analytics shared by Ai Yi via Gate Exchange. Looking at stock-crypto correlations, institutional money flow appears cautious, with crypto-related stocks like Coinbase (COIN) down 1.3% to 220 USD at market close on May 30, 2025, reflecting broader risk-off sentiment. This correlation suggests that if stock market weakness persists, ETH could face additional headwinds. For traders, key support levels to monitor are 2,500 USD and 2,450 USD on ETH/USDT, with resistance at 2,600 USD. Breakouts or breakdowns at these levels, especially with high volume, could define the next short-term trend for Ethereum, making this whale's future moves critical to watch.
In terms of institutional impact, the selling by this Ethereum OG whale may signal to other large holders or funds that profit-taking is underway, potentially leading to a cascading effect. While direct data on institutional flows tied to this specific wallet isn't available, the broader trend of declining open interest in ETH futures—down 2% to 14.5 billion USD as of 14:50 UTC on May 31, 2025—suggests some de-risking among big players. For crypto-related ETFs like the Grayscale Ethereum Trust (ETHE), which saw outflows of 3 million USD on May 30, 2025, per industry reports, such whale activity could further dampen investor confidence. Traders looking for cross-market opportunities might consider hedging ETH exposure with BTC or stablecoin pairs, while keeping an eye on stock market developments, particularly tech sector performance, as a leading indicator for crypto sentiment. This whale's remaining 24,998 ETH balance ensures that their next moves will continue to influence market dynamics, making on-chain monitoring essential for informed trading decisions.
Ai 姨
@ai_9684xtpaAi 姨 is a Web3 content creator blending crypto insights with anime references