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A major Ethereum ICO investor has offloaded $ 4.5M in ETH while BlackRock buys $20M worth of ETH, sparking mixed reactions in the market.
An early Ethereum initial coin offering(ICO) investor has made a surprising market move, leaving crypto investors with mixed reactions regarding ETH and his motives. According to On-chain data, the wallet sent 1,500 ETH ($2.76M) to the Kraken exchange. Previously, in the same 24-hour period, the whale wallet had transferred another 1,000 ETH ($1.83M), signalling significant offloading.
The market has reacted to the whale wallet’s moves with mixed reactions. Having been an early ICO investor, traders question his motives, considering BlackRock has bought 11,000 ETH worth over $20 million in the same period.
BlackRock has been growing its Ethereum fund while other institutions like Trump’s World Liberty Financial believe in Ethereum’s rebound following a historical dip in Q1, 2025. So, does this early investor lack confidence in ETH’s bounce-back while institutional buying starts? Traders are closely watching ETH’s price at the $ 1800-1850 resistance zone to understand its next moves.
