The leading cryptocurrency Bitcoin rose above $42,000 with its latest rise.
While this rally in BTC was accompanied by altcoins, the largest altcoin Ethereum (ETH) rose to the $ 2,200 level.
While some investors turned these rises into opportunities and sold profits, the latest sales news came from Lookonchain.
According to Lookonchain's post, a whale that had been sleeping for five years moved approximately $90 million worth of ETH to sell.
Accordingly, the whale, one of the early ETH investors, deposited all 39,260 Ethereum into Kraken after being inactive for 5 years.
Stating that the whale bought the ETHs between June and August 2027, Lookonchain said that the whale bought the ETHs at approximately $ 240.
“An early Ethereum investor appears to be selling ETH again after being inactive for 5 years.
Whale deposited all 39,260 ETH worth $87.5 million to Kraken 30 minutes ago.
Whale bought 47,260 ETH (valued at $11.34 million) between June and August 2017 at around $240.
“If Balina sells these ETHs, she will make a profit of approximately 78 million dollars.”
An early $ETH whale appears to be selling ETH again after being dormant for 5 years.
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
— Lookonchain (@lookonchain) December 5, 2023
*This is not investment advice.
