Ethereum ICO Whale Awakens After 8 Years, Deposits $6M to Kraken
An inactive whale wallet from the Ethereum ICO has become active after nearly 8 years. The wallet held 20,000 ETH, initially acquired for approximately $6,200, and recently transferred 1,500 ETH (around $6 million) to Kraken exchange.
Key Points
- The wallet's 20,000 ETH, now worth about $80.48 million, represents a 12,971x return on investment.
- The current Ethereum price is $4,019.11, with a recent dip of 2.62%.
- ETH is experiencing a strong rebound, outperforming Bitcoin in institutional accumulation.
- Despite not breaking the $4,250 resistance recently, analysts remain optimistic about a potential rebound.
Price Predictions
- Analyst Ted Pillows predicts Ethereum could reach the $4,200-$4,300 range soon, citing a "strong bounceback."
- Pillows identified $4,060 as a reclaimed support level and $4,250 as a crucial resistance level for further bullish momentum.