A crypto whale has recently obtained significant attention across the community with a massive transaction. As per the data from Onchain Lens, a whale that has been inactive for 1.8 years has recently transacted a staggering 7,488 $ETH to the well-known brokerage firm FalconX. The popular on-chain data platform took to social media to reveal this event.
Whale Transacts $11.92M in $ETH after Remaining Inactive to 1.8-Year Dormancy
The on-chain data discloses that the whale transfer of $11.92M in $ETH after an 1.8-year-long sleep is crucial. During the dormancy, several notable developments have taken place in the wider crypto sector. The overall market has gone through many boom-bust cycles. Following this phase, a sudden revival in the whale’s activity has gained noteworthy attention.
This event also highlights the possibility of a strategic repositioning, likely while preparing for huge liquidity events or other such market developments. Irrespective of the heavy transfer, the whale wallet still possesses 10,322 $ETH tokens. This figure reportedly accounts for almost $16.48M at the present prices. This points toward the whale’s maintenance of a robust stake in the future performance of Ethereum ($ETH).
Big $ETH Transfer Could Impact Price
According to Onchain Lens, the big transfers after long dormancy like this often influence the entire market. These events may also indicate the impending sell pressure or alteration in the holding strategy in long run. Moreover, this development could also influence the price of Ethereum ($ETH).
