Gnosis (gno) 
Ethereum Whale Moves Closer to Completing Market Exit
An Ethereum whale, who received 200,000 ETH during the 2015 genesis block, has transferred 3,370 ETH (valued at $11.37 million) to Kraken, bringing them closer to completing their market exit. This recent transfer is part of a larger pattern of selling activity, with the whale transferring 48,687 ETH (approximately $171.78 million) to Kraken throughout 2024.
According to data shared by crypto analyst EmberCN, the whale’s cumulative transfers were worth approximately $171.78 million at an average transfer price of $3,528. With only 7,594 ETH ($25.72 million) remaining in their wallet, the whale appears likely to complete their exit within one to two more sales.
Consistent Pattern of Large Transfers
Etherscan data reveals a consistent pattern of large transfers throughout 2024, including:
- Dec. 7: 4,453.3997 ETH
- Nov. 25: 5,597.12775107 ETH
- Nov. 13: 5,707.96432246 ETH
- July 30: 9,756.742 ETH
This selling activity comes as Ethereum trades between $3,328.47 and $3,410.29 in the past 24 hours, with the weekly range spanning from $3,239.45 to $3,512.12. The nature of these transfers suggests a carefully planned exit strategy from their genesis block allocation.
Other Notable Ethereum Movements
In a separate development, another ICO participant woke up from a 9.4-year dormancy period on Dec. 27, depositing 631.1 ETH ($2.14 million) to Coinbase. This particular wallet originally received 1,940 ETH during the genesis block, worth just $601 at the time, and still holds 1,309 ETH (approximately $4.4 million).
Analysts Share Bullish Predictions for Ethereum
Analysts have identified a bullish inverse head-and-shoulders pattern, with Crypto Patel predicting that if ETH showcases a breakout, the price could soon hit $7,300.
Bullish vibes. Inverse Head & Shoulders pattern spotted. If we see a breakout, $7300 is on the horizon.
Another analyst, Juan Téllez, shared expectations on when ETH will start outperforming BTC. According to his analysis, ETH has only outperformed BTC during the expansion phase of the economic cycle, and the outperformance point hasn’t been reached yet.
When will $ETH start outperforming #BTC? It seems we are not there quite yet.
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