Ethereum Whale Withdraws $19.5M from Kraken, Sparks Price Debate

An Ethereum whale has withdrawn around $19.5 million in Ether from Kraken, causing a stir among analysts.

The wallet, tagged 0x8447, transferred 10,300 tokens worth roughly $19.5 million off the exchange across two transactions. It then staked 2,020 of them through the Beacon Deposit Contract, taking them out of circulation and limiting their availability for spot sellers.

Ethereum's price has been hovering near $1,899 on Tuesday, still below the resistance level at $1,960.50. Analysts are divided on the direction, with some expecting a breakout to around $2,030 and others predicting a dip to $1,715.