According to a report from CoinWorld, an early Ethereum investor has suddenly moved millions of dollars in funds after years of inactivity. Blockchain tracking company Lookonchain noted that this whale participated in Ethereum’s initial coin offering (ICO) in 2014, acquiring 150,000 ETH at the Genesis block.
Data from the blockchain tracking company indicates that the initial investment of $46,500 is now worth approximately $389.7 million, representing a growth of 837,964%. The holder has just awakened after more than two years of dormancy, sending 3,510 ETH, valued at $9.12 million, to be sold on the Kraken cryptocurrency exchange, where it may be offloaded onto the open market.
Lookonchain also reported that another investor accumulated over 96,000 ETH during the bear market of 2022 and sold a significant amount of ETH this year, including 15,000 ETH sold recently on September 21, yielding substantial profits. “This is a savvy diamond hand, buying ETH in the bear market and selling in the bull market, earning $131.72 million! This whale purchased 96,639 ETH (worth $151.42 million) from Coinbase at a price of $1,567 on September 3 and 4, 2022. Then, since March 6, it deposited 70,000 ETH (worth $214.34 million) to Kraken at a price of $3,062, leaving 26,639 ETH (worth $68.81 million).”
Source: Lookonchain/十
At the time of writing, Ethereum is trading at $2,660, having risen over 3% in the past 24 hours.
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