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In a significant move, a dormant Ethereum ($ETH) whale has shifted 3,888 $ETH to the Gemini exchange, valued at approximately $10.2 million. This notable transaction occurred roughly four hours ago, raising speculation about the potential selling of these assets.
What Previous Transactions Did This Wallet Make?
This particular crypto wallet gained notoriety around 1.6 years ago when it acquired 6,603 $ETH from the Bitfinex exchange. During that time, the average price of $ETH was about $1,785, totaling an investment of $11.78 million.
How Will This Affect the Market?
Following the recent transfer, the whale still holds 2,715 $ETH, valued at around $7.12 million under current market conditions. As $ETH prices have surged recently, the owner has realized profits totaling $5.54 million from past transactions.
- A total of 3,888 $ETH was transferred to Gemini, worth $10.2 million.
- The wallet previously purchased 6,603 $ETH for $11.78 million.
- After the transfer, the whale maintains 2,715 $ETH valued at $7.12 million.
- The profit realized from $ETH transactions is approximately $5.54 million.
The whale’s activity is drawing attention among crypto enthusiasts and traders, especially as on-chain data analytics platforms like Nansen track such movements. Although it remains uncertain if the $ETH moved to Gemini will be sold, many speculate that a sale may exert pressure on market prices, a trend that traders are keenly observing.