An Ethereum address dating back to the 2015 ICO has moved 3,510 MKR worth about $4.41 million, its first activity in seven years. The whale, one of Ethereum's oldest identifiable holders, sent the tokens to a new address rather than an exchange. Ether itself trades near $1,913, testing resistance after climbing back from its June and July lows.
An Ethereum whale with a history dating back to the 2015 initial coin offering has moved 3,510 MKR worth about $4.41 million, its first activity in seven years. The address is one of the network's oldest identifiable holders, having amassed 40,000 ETH during Ethereum's early stages.
A Maker position built between 2018 and 2019
The whale accumulated 7,020.84 MKR between September 2018 and May 2019 at an average price of roughly $828.92, putting the original cost of the full position at about $5.81 million. The transferred 3,510.42 MKR now carries about $1.51 million in unrealized profit and is valued at roughly $4.41 million at the reported price.
Those tokens have simply relocated to a different address, and there is no proof they were sold or deposited on an exchange. Because of this, the move is less bearish than a direct exchange deposit would be. Transferring assets between private addresses may indicate changes in custody, wallet restructuring, or preparation for a new transaction, though a subsequent transfer toward an exchange would change that reading.
Ether presses against resistance near $1,913
Ethereum, meanwhile, is stabilizing around $1,913 after rising from lows of $1,550 in June and July. Ether is pressing directly against the more significant moving-average resistance around $1,923, but the daily chart shows ETH holding above its shorter moving averages near $1,874 and $1,802.
Momentum has also improved, with a daily RSI of roughly 56 keeping ETH above neutral territory without entering overbought conditions. The $1,920–$2,000 range is therefore the focus of the current technical test.
A confirmed move above $2,000 could bring the long-term moving average at $2,145 into view. Rejection, meanwhile, would put the primary support levels at $1,875 and $1,800 back in play.
That 3,510 MKR's next destination will determine whether profit-taking has truly ended seven years of inactivity.
Source: U.Today
Trading involves risk.
Risk Disclaimer
