Whales Not Satisfied with Ethereum Dip: Moved $100 Million to Exchanges!

According to recent data, 3 long-term Ethereum investors may think that the correction in price is not sufficient.

Recently, while Ethereum price experienced a pullback of over 20% parallel to the correction in Bitcoin, whales may think that the dip is not enough. According to on-chain data, 3 investors or crypto funds deposited 32,527 Ethereum worth $109 million to crypto exchanges within the day.

The first whale deposited 12,500 Ethereum worth $41.7 million to the U.S.-based crypto exchange Kraken at an average price of $3,339. The whale had bought over 120,000 Ethereum in 2017 and currently holds over 12,200 ETH worth over $40.9 million.

Another whale transferred the remaining 11,600 ETH worth $39.1 million to Binance. This whale, like the first investor, had made purchases in 2017.

Lastly, the owner of the wallet “0x435” recently deposited 8,427 ETH to Binance at an average of $3,347, totaling $28.2 million.

The recent transfers by whales raised concerns that the dip might not be over yet.

According to CoinGecko data, Ethereum, which has experienced a 14% decrease in the last 14 days, is currently trading at $3,370.