An individual who has held a significant amount of ether since its initial coin offering (ICO) transferred $13.8 million worth of ETH to the cryptocurrency exchange Kraken. This move occurred as the price of ether dropped due to fears of a U.S. recession. Inflows of large amounts of ether to exchanges suggest that investors may be looking to sell the asset or use it as collateral in derivatives trading, causing price volatility. Despite the recent transfer, the whale still holds over $50 million worth of ETH.



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