• A whale deposited over 39,000 ETH to the Kraken exchange.
• This marked Ethereum’s first positive flow in a month.

After experiencing several days of continuous outflows, Ethereum [ETH] has just observed its first significant influx of the month.

The increase in the volume of inflow into exchanges could be attributed to a recent transaction made by a prominent whale.

Ethereum whale shakes up exchange flow

On the 5th of December, an Ethereum whale that had remained inactive for five years initiated a significant transaction. The whale transferred its entire holdings to the Kraken exchange.

Records from Lookonchain showed that this whale had acquired 47,260 ETH at an average price of $240 per token between June and August 2017.

After selling a portion of its holdings previously, the whale has now deposited the remaining 39,260 ETH tokens onto the exchange. 

At the press time market rate, these tokens amount to around $87.5 million. The anticipated total earnings for the whale from selling all the tokens are expected to reach around $78 million.

This recent move has caused a notable disruption in the Ethereum exchange flow.

Ethereum inflow rises for the first time in the month

AMBCrypto’s examination of the Ethereum Exchange Netflow on CryptoQuant showed a consistent negative trend over the past few days. The trend signaled a prevalence of outflows from exchanges.

However, there has been a noteworthy reversal in this pattern within the last 24 hours. AMBCrypto observed that the net flow turned positive at the close of trading on the 4th of December, registering a

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Author: Adewale Olarinde

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