Ethereum
Ex-Ethereum Whale Moves $32M worth of ETH to Major US Exchange: What’s Happening?
Gamza Khanzadaev
Former whale Ethereum moved $32 million to the US exchange, revealing a staggering profit of 1,228,387%
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It has come to our attention that an unknown person Ethereum ICO Participant transferred 8,518 ETH, equivalent to a value of $32.51 million, to a major exchange located in the United States, Kraken. The transfer was carried out in two installments.
What do we know about this whale? Their address, “0x771,” continues to hold 14,644 ETH, which is equivalent to $55.91 million. During the ICO, this large unknown holder received 100,000 ETH while the price of the main altcoin was $0.311 – to address “0xc348”.
Over the course of a year after the ICO in July 2015, he sold them. He then abruptly stopped and resumed his activity just three months ago, transferring 29,519 ETH to the address we know today. Since then, the unknown Ethereum The address has transferred tokens to Kraken on two occasions, one of which happened today.
Source: Arkham Secret Service
It is likely that this investor has decided to make a profit on his tokens. Since the ICO, the price of the leading altcoin has increased by 1,228,387%. This investor thus made a profit of $349.7 million on his 100,000 ETHif he hadn’t sold them from the start.
Historically, such actions by whales have been seen as bearish signals, often leading to increased market volatility. However, today the Ethereum Price is up 0.8%, with the price just 7% off its all-time high. It will be interesting to see how events unfold and whether this case will result in more whales returning to the market.
About the Author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to participate in covering economic and financial technology topics, as well as making more people aware of cryptocurrencies and blockchain.