A former investor who participated in Ethereum’s initial sale in 2015 has sent millions of dollars worth of ETH to a cryptocurrency exchange after six months of silence. The wallet tracked by
A former investor who participated in Ethereum’s initial sale in 2015 has sent millions of dollars worth of ETH to a cryptocurrency exchange after six months of silence.
The wallet tracked by Lookonchain transferred 13,330 ETH, worth approximately $36.37 million, to Coinbase. At the time of the transfer, the price of Ethereum was around $2,728.
The investor in question purchased 170,000 ETH during the initial Ethereum sale at an average price of $0.31. At the time, the total cost of this amount was only approximately $52,700. Today, the total value of those same ETH is approximately $461 million.
The whale’s profit from its latest sale amounted to $36.21 million.
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Another on-chain analysis indicates that the wallet still holds approximately 1,484 ETH, suggesting that other tokens acquired from the initial sale may have been moved to different addresses in previous years.
Large-scale inflows into exchanges are closely watched by investors as they can create short-term selling pressure. However, 13,330 ETH is not large enough to single-handedly drive the entire market when compared to Ethereum’s daily global trading volume.
*This is not investment advice.
Continue Reading: Ethereum Whale That Bought at $0.31 Made a Move Today
