Ethereum Whale Dumps Thirty Four Million Ahead of Pectra Upgrade
An original Ethereum ICO participant has re-emerged — and not just to say hello. This whale recently sold over eighteen thousand ETH, worth around thirty four million dollars, all through the Kraken exchange.
And the timing is raising eyebrows.
Timing the Market or Playing It Safe?
The sale coincides with Ethereum’s upcoming Pectra upgrade. While Pectra is expected to improve scalability and staking, some big players may be opting to take profits early.
Here’s what we know:
- The whale bought ETH at just thirty-one cents during the 2015 ICO
- They held it for nearly a decade
- They still have over eleven thousand ETH left
That’s a massive return — and potentially a smart move if they expect short-term volatility.
What’s the Deal With Pectra?
The Pectra upgrade is a big one. It’s set to:
- Boost staking efficiency
- Improve infrastructure
- Enhance Ethereum’s scaling roadmap
With major exchanges like Binance temporarily pausing ETH-based transactions around the hard fork, it’s no surprise that whales are reshuffling portfolios.
Should You Be Concerned?
Not necessarily.
While a whale offloading that much ETH can affect short-term sentiment, it’s also a sign of healthy profit-taking. ETH remains one of the most held assets among long-term investors.
