Ethereum
Satoshi-era Ethereum whale wakes up with $24 million transfer
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THE Ethereum The whale who participated in the Ethereum ICO in 2015 and bought 254,900 ETH just transferred 7,000 ETH to the Kraken exchange, despite an anemic 209 days. As of now, the whale still holds a whopping $139 million, making him one of the most successful ETH investors at the moment there.
After acquiring their important ETH After selling off holdings at an ICO price of just $0.311 per ETH, this whale has now taken a big step forward by transferring 7,000 ETH, or about $24.28 million, to the Kraken exchange. The whale’s long period of inactivity, which lasted for over six months, is what drew attention to the transaction. This whale still has 40,069 ETH in its possession, which is currently worth about $139 million.
The remarkable return on investment obtained thanks to the first Ethereum This stance demonstrates the importance of adopters, which also highlights the significant influence these large holders can have on the market when they choose to move their assets. Such whale movements frequently cause speculation and anxiety in the cryptocurrency world. Massive transfers to exchanges sometimes occur before major sales, which could drive down the price of the asset.
Staking, lending, or even using assets as leverage for other investments are other strategic reasons why the whale could be positioned this way. The fact that this whale’s address was reactivated after a long period of inactivity further underscores how erratic the cryptocurrency is walk East.
Long-term investors have the ability to take long pauses before acting abruptly to influence sentiment and price movements in the market. Moreover, the whale’s choice to sell now could be related to a risk-reduction strategy.
About the Author
Arman Shirinyan
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with over four years of experience.
Arman strongly believes that cryptocurrencies and blockchain will be of constant use in the future. Currently, he focuses on news, articles with in-depth analysis of crypto projects, and technical analysis of cryptocurrency trading pairs.