Ethereum whales continue to move in different directions. At this point, an ICO whale is selling while an institution is buying a large amount.
According to a post by blockchain analytics firm Lookonchain, an Ethereum ICO participant sold $47.54 million worth of ETH in two days.
Lookonchain shared that an Ethereum ICO participant sold 19,000 ETH in the last two days. This whale received 150,000 ETH from Genesis during the ICO. The whale initially spent $46,500 for these ETH, and the value of the ETH in his hands has since reached $358 million.
This whale also sold 32 thousand ETH last week.
Mysterious Whale Finding the Bottom Has Purchased Again!
While the ICO whale's selling during the recent declines was also noteworthy, an institution known as “7 Siblings” also took advantage of the decline and made large purchases.
This mysterious institution returned to the market and spent 66 million USDC to buy 28,120 ETH, with an average purchase price of $2,350.
This whale had previously purchased 56,093 ETH by spending 129.3 million USDC at an average price of $2,305 during the crash on August 5.
*This is not investment advice.