Ethereum Whale Shocks Market with Massive Move After Years of Silence

An early Ethereum investor has made headlines by moving millions in ETH after years of inactivity, as reported by blockchain analytics firm Lookonchain.

This whale initially participated in Ethereum’s 2014 ICO, acquiring 150,000 ETH at the Genesis block.

That initial investment of $46,500 has skyrocketed in value to approximately $389.7 million today, marking a staggering increase of 837,964%.

After more than two years of dormancy, the holder transferred 3,510 ETH, worth around $9.12 million, to the Kraken exchange, where it may be sold on the market.

Another savvy investor saw significant profits by purchasing over 96,000 ETH during the 2022 bear market and selling off large amounts this year, including a notable sale of 15,000 ETH on September 21.

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Described as a “smart diamond hand,” this investor turned a profit of $131.72 million by strategically buying ETH during the downturn and selling during the market’s upturn.

They acquired 96,639 ETH for $151.42 million from Coinbase at an average price of $1,567 on September 3 and 4, 2022, and later deposited 70,000 ETH (worth $214.34 million) at $3,062 to Kraken since March 6, retaining 26,639 ETH valued at $68.81 million.

Kosta Gushterov