As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed countless instances of market players cashing out their gains, and this latest development involving the 2015 Ethereum whale is no exception. With only 7,594 ETH left to sell, it appears that the whale is on the verge of completing its exit from its genesis block allocation, which has been a long-drawn process spanning eight years.
The selling activity by this whale and other early Ethereum investors underscores the importance of patience in reaping the rewards of one’s investments. The recent awakening of another ICO participant from a 9.4-year dormancy period serves as a testament to the power of hodling, even through extended periods of bear markets.
Looking at the technical analysis front, if Ethereum manages a breakout, we could potentially see the price hitting $7,300, according to Crypto Patel. However, it’s essential to remember that the cryptocurrency market is notorious for its volatility and unpredictability. As such, one should never invest more than they are willing to lose.
Lastly, as I observe the ETH/BTC ratio, I can’t help but chuckle at the thought of how these market cycles often mimic the rollercoaster rides we find at amusement parks. Just as a thrilling ride takes its passengers through ups and downs before finally reaching the end, so too does the cryptocurrency market. The key is to enjoy the ride while keeping a firm grip on your investments. After all, it’s just like the saying goes: “The higher the risk, the sweeter the reward – but don’t forget to hold on tight!
A whale that obtained 200,000 Ether during Ethereum’s initial creation in 2015 has taken a step towards concluding its market withdrawal by transferring approximately 3,370 Ether (worth around $11.37 million) to the exchange platform Kraken.
As a researcher delving into cryptocurrency trends, I’ve come across some intriguing findings from crypto analyst EmberCN. It appears that throughout the year 2024, a significant whale moved a substantial amount of 48,687 Ethereum (ETH), equivalent to approximately $171.78 million, to the cryptocurrency exchange Kraken. This transaction was executed at an average price point of around $3,528 per ETH.
A whale who received 20,000 Ether from the Ethereum genesis block in 2015 recently transferred 3,370 Ether (approximately $11.37 million) to Kraken. This year, the whale has moved over 48,687 Ether worth approximately $171.78 million to Kraken, with an average sell price of $3,528. However, over the course of 8 years, most of these Ether have been sold. Currently, there are roughly 7,594 Ether left (approximately $25.72 million), with another 1-2… transferred to Kraken.
— 余烬 (@EmberCN) December 29, 2024
The large investor, with approximately $25.72 million worth of Ethereum (7,594 ETH) left in their account, seems poised to finish offselling their holdings within the next one to two transactions.
Etherscan data reveals a consistent pattern of large transfers throughout 2024:
- Dec. 7: 4,453.3997 ETH
- Nov. 25: 5,597.12775107 ETH
- Nov. 13: 5,707.96432246 ETH
- July 30: 9,756.742 ETH
In the last day, Ethereum has been traded between approximately $3,328 and $3,410, while its weekly range stretches from around $3,239 to $3,512. This pattern of transactions hints at a calculated withdrawal approach from their initial block distribution.
In recent times, the actions of early Ethereum investors have become more conspicuous. Meanwhile, another Initial Coin Offering (ICO) participant emerged from a 9.4-year long slumber on December 27th, transferring 631.1 ETH, equivalent to approximately $2.14 million, into Coinbase.
Initially, this specific wallet was credited with 1,940 Ether during the creation of Ethereum network, which equated to a value of around $601 back then. Currently, it contains approximately 1,309 Ether, equivalent to about $4.4 million.
The movement comes as analysts have identified a bullish inverse head-and-shoulders pattern.
Ethereum looks optimistic! 🌞
I’ve noticed an Inverse Head and Shoulders pattern. If it breaks out, we could be looking at $7300 in the near future 🚀
Following closely behind, other altcoins will likely follow suit—exercise patience for best results. 🔍 $ETH
— Crypto Patel (@CryptoPatel) December 28, 2024
If ETH showcases a breakout, the price could soon hit $7,300, according to analyst Crypto Patel.
Analyst Juan Téllez recently offered his insights on when ETH might surpass Bitcoin‘s performance. According to him, throughout the past two market cycles, Ethereum has only exceeded Bitcoin during the growth stage of the economic cycle.
Is it possible for ETH to surpass BTC in performance anytime soon? At this point, it appears we may not be quite there just yet.
Historically, during the growth phase of an economic cycle, ETH has only outperformed Bitcoin in the last two market cycles.
However, we have noticed some potential indications suggesting a possible shift…
— Juan Téllez (@Juan_Web3) December 28, 2024
The analyst has spotted indications suggesting a possible flip in the Ethereum-to-Bitcoin (ETH/BTC) relationship, implying that Ethereum hasn’t surpassed its superior performance stage just yet.
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2024-12-29 18:20