Hupzy (Spot On Chain)|Oct 06, 2026 13:04
A whale redeemed ๐ฏ,๐ฒ๐ฑ๐ต ๐๐ง๐ ($9.93M) from staking after holding for a full year, then deposited ๐ฑ,๐ฑ๐ญ๐ฏ ๐๐ง๐ ($14.97M) into Kraken 10 minutes later. The deposit exceeds the unstaked amount, meaning roughly 1,854 ETH of additional holdings were routed to the exchange alongside the unlocked position.
๐๐๐ฝ๐๐ ๐๐ฎ๐ธ๐ฒ: A wallet that locked ETH for 12 months is now unlocking and moving a larger amount into exchange custody โ a clear sell-pressure signal. If the deposit converts to active selling, it could cap any near-term ETH rally. Watch price reaction over the next 24-48 hours.
For ETH, the setup shifts bearish on this flow. Key watch: whether the Kraken deposit converts to market sells or sits idle. A return to staking would flip the read.
https://arkm.com/explorer/address/0xBc0b449e6BC5B2e9B709C9dE27d9Bd1986a765F2
source: EmberCN
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