Ethereum Whale Transfers $8.55 Million to Kraken: Market Implications?

A major Ethereum investor from the 2015 Initial Coin Offering (ICO) has deposited a substantial sum – $8.55 million in ETH – onto the crypto exchange Kraken. This move comes amidst bullish momentum for Ethereum, which has surged by up to 22% within the past weeks and is currently trading at around $4,250. Analysts attribute this spike to expanding DeFi applications and increasing institutional interest.