News - Ethereum whale emerges after 9 years and moves 8,518 ETH

By Ted Maas

Ethereum whale emerges after 9 years and moves 8,518 ETH

Ethereum (ETH)
Wallets and Whales

A participant in the Ethereum ICO moved $32 million worth of ETH to an exchange. His return: 1,228,387%

An unknown Ethereum whale suddenly transferred 8,518 ETH, currently worth about $32.5 million To the address of the crypto exchange Kraken. He had had his ETH tokens since the ICO in 2015.

During the ICO, he received as much as 100,000 ETH, at a time when the price of the main altcoin was only $0.311. So this person's total purchase price was about $31,100. Ether is currently in much better shape, hovering around $3,750. That would mean the Ethereum whale would only receive a modest 8.27 ETH for his purchase price at that time.

The whale moved large amounts of Ether just a year after the ICO. Then he disappeared and only suddenly became active again three months ago, transferring 29,519 ETH to the address known today. His fiat returns are impressive: The ICO participant managed a spectacular price increase of 1,228,387 percent with his Ether. If he has not sold parts of his ETH holdings in the past, his total profits amount to about $370 million.

Historically, such large trades are often seen by whales as a negative sign and often increase market volatility. At the same time, however, Ether scarcity on exchanges is increasing, which is seen as a positive sign.

The surprise approval of the 19-4b applications of several Ethereum ETF issuers gave the Ether price a boost lately. At times, the price reached the psychologically important 4K barrier.

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