An ancient ETH whale has transferred another 10,000 ETH, fueling expectations of a sell-off.

CoinFeed reported on April 25th that, according to on-chain analyst AI Yi, a whale that held millions of ETH during the 2015 ICO has transferred 10,000 ETH, worth approximately $23.21 million, to the multi-signature address 0x26c…B9392 after a week's absence. The market interprets this as a recent sell-off signal. This receiving address is a frequently used transit address for whales, having deposited a total of 12,001 ETH (approximately $24.62 million) into OKX over the past two months. Historically, ETH transferred to this address has almost always been sold off in batches on exchanges. This whale is an ETH genesis investor with a cost basis of only $0.31 per ETH. Historically, large transfers have been followed by sell-offs, and this latest move further exacerbates market concerns about short-term ETH selling pressure.