Whale Wallet Moves $397m to Gemini and Shakes the Market

Whale Wallet Moves $397m After 9 Years of Inactivity

The crypto market turned alert after a whale wallet moves $397m worth of Ethereum to the Gemini exchange. The transfer did not happen at once, which made it even more interesting for traders. First, the holder sent 50,000 ETH, valued at nearly $145 million, and later transferred the remaining funds in several transactions during the same week. A whale wallet means an address that holds a huge amount of crypto and has the power to influence market sentiment. When such large amounts are sent to an exchange, it usually signals preparation for selling, trading, or restructuring funds. That is why this move instantly became a hot topic. Investors began tracking Gemini’s inflows closely, knowing that even a small action from this wallet today.

Source: X official

From Cheap ETH to Massive Profit Potential

Back in 2016 and 2017, Ethereum was trading at extremely low prices compared to today, often between $80 or $90. Many early investors bought ETH during this period because they believed in the future of blockchain technology. If this Dormant holder purchased Ethereum at that time, the current value shows massive profits that can reach dozens of times the original investment. This is why analysts believe the moment when a whale wallet moves $397m to an exchange strongly hints at profit booking. Selling even a part of this ETH could create selling pressure in the market. This pressure may cause short-term price swings and higher volatility. It does not mean Ethereum will crash, but it shows that big players can influence price movement quickly and emotionally. This helps traders plan safer strategies.

A Nine-Year-Old Silent Whale Comes Back to Life

The whale wallet was inactive for almost nine years, which makes this event even more powerful. Such long silence usually means a strong belief in the asset or a carefully planned investment strategy. The owner may have trusted Ethereum’s long-term growth and waited for the right market phase to act. Another reason could be security, as early holders often stored funds safely and avoided frequent movement. Some also believe access to the wallet might have been regained recently. Choosing Gemini shows a professional decision because it is a regulated and trusted exchange. It offers high liquidity and institutional-level services. This choice suggests the Dormant holder wants a safe and controlled environment for any future actions without causing sudden panic in markets or damaging public confidence.

Traders Stay Alert as ETH Remains in Focus

Even after the huge transfer where a Whale Moves $397m, the Dormant holder has not started selling Ethereum yet. The movement only shows preparation, not confirmation of selling. Still, traders are watching every transaction from this wallet closely. Whale movements often act like warning signals for the market. If selling begins, Ethereum could face short-term pressure and quick price changes. If nothing happens, confidence may return, and the market may stabilize again. This is why on-chain data is so important. It helps investors understand what big players are planning before prices react. The current situation keeps Ethereum in focus and adds excitement to market activity. Such events remind everyone that large holders still control large power. 

 Conclusion: When a whale wallet moves $397M to Gemini, it signals preparation, not panic, reminding investors to track on-chain data, manage risk wisely, and expect short-term volatility while ETH’s long-term outlook remains steady. 

Disclaimer: This article is for informational purposes only and is not financial advice. Cryptocurrency markets are volatile, so readers should research independently and consult professionals before making any investment decisions at all.