Ethereum Whale Moves $5.53M To Kraken After Three-Year Dormancy

• Ethereum Whale transferred 3,000 ETH worth $5.53M to Kraken after three years of dormancy.
  
• Ethereum’s price consolidated at $1,843.33 as whale transfer potentially signals short-term sell pressure.
  
• Ethereum’s 24-hour trading volume surged by 12.3%, reaching $8.47 billion amid whale activity.

A long-dormant Ethereum whale address has suddenly come to life, transferring 3,000 ETH, valued at $5.53 million, to the Kraken exchange. The ETH originated from the initial coin offering (ICO) phase and has remained untouched for nearly three years. 

According to on-chain analyst The Data Nerd, on May 2, 2025, the whale wallet starting with 0xaDd conducted the transfer. The whale still retains 2,000 ETH in the same wallet, worth approximately $3.69 million. The remaining balance suggests the possibility of further transactions, which could increase short-term selling pressure.

Transfer aligns with Ethereum’s ongoing consolidation of around $1,843.33, as per CoinGecko’s data. The move to a major exchange like Kraken could suggest an upcoming sale. Historically, such large whale transfers precede price drops, prompting traders to keep a close eye on Kraken’s ETH inflows.

Whale Transfers 3,000 ETH, Reflects Strategic Shift

Arkham Intelligence confirmed recent data, boosting its credibility. CoinGecko’s ETH price tracking revealed no immediate surge, but traders are urged to monitor for potential cascading effects. On-chain movements like this often signal price shifts, particularly when large exchanges like Kraken are involved.

The transferred 3,000 ETH was previously staked for two years. The decision to unstake and transfer this ETH to Kraken signals a shift in strategy, likely reflecting bearish short-term expectations. The whale reportedly accepted a $255,000 loss, possibly due to price changes and unstaking penalties.

While this loss suggests conviction in their new approach, it doesn’t confirm imminent selling. Kraken’s deep liquidity and advanced trading tools could be part of a broader repositioning plan. Regardless, the move underscores how even long-term holders remain active and responsive in the evolving crypto landscape.

Ethereum’s Price Action Amid Sell-Off Concerns

Despite the sell pressure risk, Ethereum showed a 2.20% daily price gain, reaching $1,848.71. Market capitalization rose to $223.2 billion, signaling ongoing investor interest. The implications of this whale deposit on trading are significant, requiring immediate attention from both retail and institutional investors.

As of May 2, 2025, Ethereum’s 24-hour trading volume surged by 3.97%, reaching $15.54 billion across major exchanges like Binance, Kraken, and Coinbase, based on CoinMarketCap data. The surge indicates increased market activity, likely triggered by the whale deposit. 

A similar event on March 15, 2024, saw a 2,500 ETH transfer to Binance, causing a 3.2% ETH price drop within 48 hours, according to Lookonchain data. Traders focused on ‘ETH trading strategies 2025’ or ‘whale impact on Ethereum price’ should consider adjusting stop-loss orders near the $1,820 support level, according to TradingView charts updated on May 2, 2025.

Read More: Ethereum Whale Dumps $15,000 ETH After a Little Price Rise