Ethereum Whale That’s Been Waiting for Three Years Has Woken Up: It’s Facing Millions of Dollars in Losses

An Ethereum ($ETH) whale that had been largely inactive for about three years has become active again. According to on-chain data, the address in question transferred millions of dollars worth of $ETH to the Kraken exchange, and it was calculated that if the transaction had been made for selling purposes, the investor could have realized a loss of approximately $6 million.

The address 0x7C5…77b86 withdrew a total of 23,834.17 $ETH between February 15 and March 21, 2022, at an average price of $2,723.2. At that time, the total value of these Ethereums was approximately $64.9 million. The investor subsequently staked their assets via Rocket Pool.

After nearly three years of silence, the whale, which had been active for a while, deposited 7,323 $ETH into Kraken 10 hours ago. The current value of the transferred assets is estimated at approximately $13.96 million.

If the whale sells these $ETH at current levels, it will realize a loss of approximately $5.98 million compared to its approximate cost in 2022. The total value of the address’s $ETH investment has also decreased by approximately 30 percent compared to the time the initial position was created.

*This is not investment advice.