Ethereum
Ancient Whale Sends Millions of ETH to Coinbase – Sale Coming?
Yuri Molchan
Old Wallet Starts Selling Ethereum Bought As Low As $11 Per Coin, Here’s How Much ETH Is Worth Now
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According to data published by the analytics account @OnchainDataNerd, a former Ethereum Wallet has made another massive crypto transaction, moving millions of ETH to the largest exchange in the United States – Coinbase.
Along with other large ETH transactions on the same and other major exchanges, this may indicate an impending sell-off.
Old Whale Sends ETH to Coinbase with Other Whales
The aforementioned tweet indicated that a cryptocurrency whale who created his wallet eight years ago (in 2016) had made another large transaction with a US-based company. crypto exchange Coinbasethe only publicly traded exchange in the country to date.
This whale purchased 12,427 ETH on Poloniex at an average price of $11. Today, they are selling 4,153 ETH at $2,984 per coin, a whopping growth of 27,027.27%. The ETH they sent to Coinbase is now worth over $12 million in fiat currency.
Another old whale moved 614 ETH to Kraken several hours ago. They bought it five years ago at an average price of $195. The ETH they sent to the exchange is valued at $1.79 million. This whale still has 1,329 ETH worth almost $4 million in his cryptocurrency wallet.
More whales are now sending ETH to exchanges
Popular cryptocurrency tracker Whale Alert spotted some huge ETH transactions made on Coinbase. Three anonymous transactions moving large amounts from Ethereum to Coinbase have been spotted in the last 24 hours.
Three different unknown whales shoveled 30,020 ETH; 11,192 ETH and 11,207 ETH at this centralized crypto exchange. The first transaction, however, was made by Coinbase Institutional. These pieces of Ethereum were valued at $86,959,077; $32,273,912 and $32,683,631.
The awakening of Satoshi-era Bitcoin wallets
The source mentioned above, Whale Alert, also noticed two old Bitcoin wallets coming back to life after a period of stunning dormancy. The two were last active almost eleven years ago, in 2013, two years after the mysterious creator of Bitcoin, Satoshi Nakamoto, chose to disappear from public view. Before disappearing, it left BTC in the hands of enthusiastic developers.
Each of these wallets contained 500 Bitcoins valued at $30,514,975 and $30,494,084. The potential profit of whales increased by 49,274%.
About the Author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects. He has written for several crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.