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A significant Ethereum holder, inactive for over two years, transferred 15,000 ETH valued at $30.9 million to the American cryptocurrency exchange Coinbase. The transaction was tracked by crypto analyst The Data Nerd.
The “Ethereum whale” acquired the asset during the initial coin offering (ICO), purchasing 17,400 ETH in 2014 at an average price of $11.6 per coin. The investor had kept these assets on another exchange, Poloniex. The recently transferred 15,000 ETH cost the investor approximately $174,000 at the time of purchase. Should he choose to sell these coins, he would realize a profit exceeding $30.7 million.
The address of this major investor, the “whale,” still holds 14,800 ETH, which is valued at $30.5 million. Thus, he had a total of 29,800 ETH, but opted to transfer just over half to Coinbase to secure profits from the assets held all these years, as suggested by The Data Nerd.
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The actions of the “whale” may have been influenced by Ethereum’s high volatility. Over the past week, the ETH price has dropped by 6%, and the altcoin is currently trading at $2,148 with a market capitalization of $259.2 billion. The daily trading volume of the coin has surged by 60.7%, reaching $23.4 billion.
A few days ago, the number of active addresses on the Ethereum network rose from 381,202 to 841,404, indicating a resurgence in trading activity among market participants.
Some large cryptocurrency holders are selling not only Ethereum but also Bitcoin. Recently, analysts at EmberCN discovered that a “Bitcoin whale” sold 1,000 BTC for $71.6 million. This investor had acquired the coins in 2013 at an average price of around $332 per Bitcoin.
