Recent on-chain reports have shown that large volumes of Ethereum$ETH have been moved to exchanges. A whale involved in the Ethereum ICO has been actively moving ETH, recently moving 5,000 ETH (worth $12.22 million) to Kraken.

This sale is part of a larger trend: over the past two weeks, the whale has sold 45,000 ETH at an average price of $2,516. To date, the whale has sold 60,000 ETH for $149.68 million.

In addition, the Ethereum Foundation moved 2,500 ETH ($6.06 million) to the Bitstamp exchange in two transactions. This activity has fueled speculation that further selling could be in the offing, especially given that Ethereum continues to face downward pressure in Q4 2024$SOL $SUI