cryptopolitan.com
An Ethereum whale, who initially received 150,000 $ETH through the project’s Initial Coin Offering (ICO), has again started dumping coins.
According to crypto analyst EmberCN, the whale moved another 5,000 $ETH to Kraken. The movement was worth around $12.22 million and happened a few hours ago.
Ethereum ICO whale on a selling spree
This transfer comes as a follow-up of a substantial selling spree by the whale over the past two weeks. During this period, the investor sold 45,000 $ETH. This was worth about $113.2 million at an average price of $2,516 per $ETH.
EmberCN shared the whale’s selling history, which reveals a pattern of strategic exits at various prices.
通过 ICO 获得 15 万枚 $ETH 的鲸鱼，又在 4 小时前向 Kraken 转移了 5,000 枚 $ETH ($12.22M)。
他已经在最近半个月里出售了 4.5 万枚 $ETH ($113.2M) 啦，均价 $2,516。到目前，他通过 ICO 获得的 15 万枚 $ETH 已经售出了 6 万枚 ($149.68M)：
1⃣2019 年 7 月以 $218 的价格出售 5,000 $ETH… https://t.co/AQGzzopIyQ pic.twitter.com/sntybhTqLU— 余烬 (@EmberCN) October 8, 2024
In July 2019, the investor sold 5,000 $ETH for $1.09 million, with Ethereum priced at $218 per token.
In June 2024, the whale liquidated another 10,000 $ETH. During this time, $ETH had a price of $3,539 per token, and the whale bagged $35.39 million with this sale. The most recent sell-off occurred between September and October 2024, when the whale sold 45,000 $ETH at an average price of $2,516, receiving $113.2 million from this single sale.
Ethereum whale currently holds 94,540 $ETH
In total, the whale has now sold 60,000 $ETH out of their original 150,000 $ETH received through the ICO. The offloading has made the whale a total of $149.68 million. Despite these large disposals, the investor still maintains a large Ethereum position.
Currently, the whale holds 94,540 $ETH, valued at approximately $230.3 million at current market prices. As per EmberCN, the additional 4,540 $ETH is attributed to staking income earned through platforms like Lido and Rocket Pool.
The movement by the whale comes as the price of $ETH has dropped by over 3% in the last 24 hours. CoinGecko data shows that $ETH is down by over 7.4% in the last seven days. $ETH is currently hovering in the $2,400 level.