ethereum ·
Ethereum Heads for Worst October Since 2018 as Early Whales Wake Up
Ethereum (ETH) is losing support from new money and old money at the same time this October.
US spot ETFs have shed about $1.35 billion, while wallets dormant for years moved over $140 million in ETH. The price has dropped 13.6% this month so far.
That puts Ethereum on course for its weakest October since 2018. Wallets From Ethereum's First Days Start Moving Again On-chain analytics platforms flagged over 10 large transfers from long-idle wallets between October 5 and 29.
Together, they moved about 56,000 ETH. Four of the 5 largest went straight to Coinbase or Kraken.
The largest came on October 5, when one wallet sent 13,330 ETH, about $36.37 million, to Coinbase. Its owner reportedly bought 170,000 ETH in the 2015 ICO at $0.31.
Three days later, Lookonchain reported that pinosaur.eth unstaked 9,618 ETH and deposited it to Kraken. Separately, wallets reportedly linked to the Ethereum Foundation moved about 14,770 ETH on 3 separate days. The latest move came on October 29.
