Ethereum Price Eyes $5,000 as Linked Wallets Send $11M to Kraken

• Ethereum Foundation-linked wallets transferred 4,393 ETH, worth approximately $11.13 million, to Kraken, a sale has not been confirmed
• A whale reportedly bought 15,200 ETH after selling Bitcoin, while Tom Lee forecasts Ethereum above $5,000 by year-end
• A hypothetical $1,000 investment at $2,555.95 would yield $956.22 profit at $5,000, a 95.62% return before fees and taxes

Ethereum price is trading near $2,556, leaving a long climb to the $5,000 level Tom Lee expects before year-end. His bullish outlook comes as large holders make contrasting moves. One whale reportedly shifted from Bitcoin into ETH, while wallets historically linked to the Ethereum Foundation deposited tokens at Kraken. Together, those transactions give the Ethereum price prediction debate a more immediate test, whether fresh buying can absorb the supply that could reach the market.

Also Read: Bitcoin Eyes $100K After Reclaiming $84K as 2023 Rally Pattern Returns, Sparking Uptober Hopes

Foundation-Linked Wallets Send 4,393 ETH to Kraken

Two Ethereum Foundation-linked wallets transferred 4,393 ETH, worth approximately $11.13 million, to Kraken on October 12, according to the latest data.

The addresses reportedly received 59,751 ETH from a Foundation wallet roughly ten years ago. Over the following decade, 49,751 ETH moved to Kraken, with an average transfer-time price near $658, according to the tracker.

Those historical transfers establish a funding connection, but do not identify who controls the addresses today. The latest Kraken ETH transfers also leave a practical question unanswered, if the deposited coins have been sold.

An exchange deposit makes tokens available for trading. It does not always establish an executed sale or explain the owner’s intentions.

Also Read: Meta Stock Records 172 Insider Trades With No Purchases in Six Months

Whale Buying Accompanies Tom Lee’s Ethereum Forecast

On the buying side, Ash Crypto highlighted a whale reportedly purchasing 15,200 ETH after selling Bitcoin. It should be noted that accounts differ on the dollar value of the Bitcoin disposed of.

This reported ETH whale accumulation provides one example of capital moving toward Ethereum. A single wallet’s activity, however, offers limited evidence of a broader shift.

Tom Lee’s Ethereum forecast rests on a wider argument. In a recent interview, the Fundstrat co-founder pointed to Wall Street’s growing use of tokenized assets as a potential driver of a move beyond $5,000 this year. Lee also chairs BitMine, an Ethereum treasury company, giving him a commercial interest in ETH’s performance.

What a $5,000 Ethereum Price Would Mean

MarketCapOf’s crypto profit calculator shows the distance to that forecast. A hypothetical $1,000 purchase at $2,555.95 would be worth $1,956.22 at $5,000. This produces $956.22 in profit, or 95.62%, before fees and taxes.

With less than three months remaining in 2026, Lee’s call requires Ethereum price to nearly double. The whale purchase adds buying interest, while the Kraken deposits leave potential supply for traders to watch. Neither transaction settles whether demand can sustain an advance of that size.

Also Read: Microsoft’s Nadella Urges AI Safety Controls as AI Borrowing Plunges 80%