Ethereum has been performing poorly compared to Bitcoin for most of the year, but has made a comeback in recent days.
At this point, as the ETH price rose above $3,350, whales also took action and sold.
According to Lookonchain's post, the Ethereum whale that has been sleeping for about 8 years woke up and sold $224 million worth of ETH.
The whale, who bought ETH at an average cost of $6, started selling on November 7 and has sold 73,356 ETH worth $224 million so far.
He still has 325,533 ETH worth $1.1 billion.
“A whale who accumulated 398,889 ETH (currently worth $1.34 billion) at an average price of $6 is selling ETH again.
This whale accumulated 398,889 ETH (worth $2.4 million at the time) between January 18 and March 10, 2016, at an average cost of around $6.
After being dormant for over 8 years, the whale became active again on November 7th and started selling ETH.”
Apart from this whale, Cosmos developer Interchain Foundation also sold Ethereum.
Interchain Foundation deposited 3,000 ETH worth $10.16 million into Coinbase Prime today, according to on-chain analyst EmberCN.
The Interchain Foundation raised these ETH assets through an ICO in April 2017.
Since the end of April this year, the foundation has sold a total of 21,600 ETH (worth $55.97 million) at an average price of $2,591.
He currently still holds 383.8 Bitcoin and 23,587 Ethereum.
*This is not investment advice.
