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News - Ethereum whale moves $90 million worth of Ethereum
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06-12-20231 min read
Ethereum whale moves $90 million worth of Ethereum
A Ethereum whale recently moved $90 million worth of Ether. He bought the coins in 2017 for $240 each and is now likely selling them for a total of $90 million.
A whale has resurfaced after five years, this time in the Ethereum ecosystem. He is reportedly sending $90 million worth of Ether to Kraken, presumably for sale. This is reported by Lookonchain on Twitter.
An early $ETH whale appears to be selling ETH again after being dormant for 5 years.
— Lookonchain (@lookonchain) December 5, 2023
The whale deposited all 39,260 $ETH($87.5M) to #Kraken 30 mins ago.
The whale received 47,260 $ETH($11.34M) at ~$240 from June to August 2017.
If sold the whale would make a profit of ~$78M. pic.twitter.com/v0PI4LNTKO
The ETH was purchased in 2017 at a price of $240 each, totaling $11 million dollars. Currently, Ethereum is listed at about $2,200 each.
It is important to note that whales are entities that hold significant amounts of tokens or coins, for example 1,000 Bitcoin. Ethereum whales have reduced their holdings since 2020, although Ethereum has so far not performed as strongly as many other altcoins as well as Bitcoin. Lately, however, whales have been buying significant quantities again at.
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