According to blockchain tracking company Lookonchain, an original Ethereum investor has suddenly moved millions of dollars worth of ETH after remaining inactive for years.
Lookonchain notes that the whale participated in Ethereum’s initial coin offering (ICO) in 2014 when they received 150,000 ETH at the Genesis block.
According to the blockchain tracking company, the initial investment, which cost just $46,500, is today valued at approximately $389.7 million – which translates to an increase of 837,964%.
The holder has just woken up after more than two years of rest to steer 3,510 ETH, worth $9.12 million, to the crypto exchange Kraken, where the crypto stack could potentially be sold on the open market.
Also take a look at Chain reports another investor who made huge profits by accumulating over 96,000 ETH during the 2022 bear market and selling huge amounts this year, including the most recent sale of 15,000 ETH on September 21.
“This is a smart diamond hand, who buys ETH in the bear market and sells ETH in the bull market, making $131.72 million!
This whale bought 96,639 ETH ($151.42 million) from Coinbase for $1,567 on September 3 and 4, 2022. He then deposited 70,000 ETH ($214.34 million) at $3,062 to Kraken since March 6, leaving 26,639 ETH ($68.81 million) ) remained.”
Ethereum is trading at $2,660 at the time of writing, up more than 3% in the past 24 hours.
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Generated image: Midjourney
Credit : dailyhodl.com
