The team at analytics platform Lookonchain noticed capital movement in a wallet linked to an Ethereum initial coin offering (ICO) participant who received assets at a price of $0.31.
A whale who received 1M $ETH in #Ethereum ICO at a price of $0.31 deposited 5,000 $ETH($13.2M) to #OKX again 12 hours ago.
This whale has deposited 48,500 $ETH($154M) to #OKX at an average price of $3,176 in the past month.https://t.co/4AN8voWrFEhttps://t.co/u1zjZ01Ez4 pic.twitter.com/ZDsFCcFiTk
— Lookonchain (@lookonchain) August 12, 2024
According to experts, an Ethereum whale transferred 48,500 ETH to the OKX cryptocurrency exchange in a month. At the time of writing, these assets are valued at about $130 million. However, Lookonchain noted that the average cost of Ethereum (ETH) at the time of the transactions was $3,176.
If a major hodler sold his assets, he would have earned more than $154 million.
Note that at the time of writing, the whale’s wallets only hold 15.6 ETH, worth nearly $42 million, according to Debank.
The Ethereum rate fluctuates around the $2700 mark.
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Source: Cryptocurrency
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