Another major Ethereum holder translated 39,260 ETH to the Kraken cryptocurrency exchange. If he sells at the current price of $2,200 for 1 ETH, he will receive more than $86 million.
Note that in 2017 to this address sent 47,260 ETH in one transaction. The average purchase price was $240, as evidenced by data from the Lookonchain analytical platform:
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
According to the analytical platform Arkham, the address may belong to the market maker Cumberland. Transferring funds to an exchange usually means that the owner is going to sell the cryptocurrency or convert it into other assets.
In October, an Ethereum ICO participant transferred 2,000 ETH to four different addresses after 8 years of inactivity.
Source: Cryptocurrency
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