In the past three days, two major Ethereum holders have transferred a total of 20,610 ETH, worth $53.6 million, to centralized exchanges. One of these holders, known as the Ethereum ICO whale, transferred 8,510 ETH to Kraken after three months of inactivity. Despite the large outflow, the whale still holds around 130,000 ETH in eight different wallets. The other major holder, identified as "0x999," moved 12,100 ETH, valued at $31.45 million, to FalconX. This wallet is believed to be associated with Genesis Trading's bankruptcy distribution. These large-scale moves have sparked concerns about potential selling pressure and may indicate impending market activity. Traders and analysts are closely watching for further developments as the movements of these whales have the potential to impact Ethereum's market dynamics.



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