A long-time Ethereum investor recently deposited 4,500 ETH, worth approximately $20.4 million, to the Kraken exchange. This action came after two years of inactivity in the wallet, indicating a significant increase in activity in the Ethereum market. Over the past four months, the same wallet has transferred a total of about $23.4 million to various exchanges.
Despite these deposits, the investor still holds $13.8 million in Ethereum and has retained some of his assets. Interestingly, the price of Ethereum has increased to its highest level in recent weeks; with the price of ETH reaching $4,610 today.
Along with this activity, institutional demand for Ethereum remains high. Over $1.29 billion in capital inflows were recorded into the Ethereum market in the past week, indicating the confidence of professional investors in this digital currency.