Ethereum Whale Secures Profits from Recent Price Surge
A major Ethereum investor has taken advantage of the recent increase in ETH prices, liquidating 15,000 ETH and earning around $40 million.
This transaction follows a consistent pattern of the investor moving assets to exchanges before anticipated drops in price.
Data from SpotonChain reveals that this large Ethereum holder has been transferring significant amounts of ETH to centralized exchanges in anticipation of price declines. This comes shortly after Ethereum’s co-founder Vitalik Buterin moved 400 ETH to a crypto mixer, Railgun.
In the past month, this whale has shifted 25,000 ETH, worth approximately $74 million, to Kraken in two separate transactions.
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Cardano’s Next Major Upgrade to Launch on August 27The latest sale involved 15,000 ETH at an average price of $2,645, just before Ethereum’s price fell by 2.5% to $2,591, with a market cap of $311 billion. Earlier, the same whale sold 10,000 ETH in July for $34.7 million at an average price of $3,420, which was followed by a 7.6% price drop.
Despite these large sell-offs, the investor still holds 41,639 ETH valued at $107 million, showing a significant profit of $131 million, up 86% from their initial investment.
This whale had purchased 96,639 ETH from Coinbase during the market downturn in September 2022 and sold 55,000 ETH for $176 million in March 2024 at an average price of $3,199.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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