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Dormant Ether Whale Moves $13M in ETH to Kraken
Large movement of coins to exchanges often breeds price volatility.
Mar 11, 2025, 5:28 a.m.
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What to know:
- An ether ICO whale transferred 7,000 ETH to Kraken after five months of inactivity.
- The transfer occurred as ETH's price tanked to lowest since October 2023.
An ether whale, who has held the token since its initial coin offering (ICO), made waves on Monday as it moved ETH worth millions to crypto exchange Kraken, according to blockchain sleuth Spot on Chain.
The whale deposited 7,000 ETH, worth $13.8 million at press time, to Kraken as the token's price plummeted along with the broader market on U.S. recession fears. Ether tanked to $1,760, reaching the lowest since October 2023, and last changed hands at $1,900.
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Large inflows into exchanges are said to represent investors' intention to liquidate the asset or deploy the same as margin/collateral in derivatives trading. This often breeds price volatility.
The ether ICO whale still holds 30,070 ETH worth over $50 million.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Key bitcoin price levels to watch as downward pressure builds
As bitcoin remains in a downtrend, several technical and onchain levels stand out as critical areas of support.
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- The 100-week moving average at $87,145 remains the main line of defense.
- Below this, the cost basis of U.S. spot bitcoin ETF buyers at $84,099 has provided support during recent consolidation.
- A sustained break below $80,000 would likely open the door to a revisit of the April 2025 low near $76,000.
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