Ethereum Whale That Bought at $0.31 Made a Move Today

A former investor who participated in Ethereum’s initial sale in 2015 has sent millions of dollars worth of $ETH to a cryptocurrency exchange after six months of silence.

The wallet tracked by Lookonchain transferred 13,330 $ETH, worth approximately $36.37 million, to Coinbase. At the time of the transfer, the price of Ethereum was around $2,728.

The investor in question purchased 170,000 $ETH during the initial Ethereum sale at an average price of $0.31. At the time, the total cost of this amount was only approximately $52,700. Today, the total value of those same $ETH is approximately $461 million.

The whale’s profit from its latest sale amounted to $36.21 million.

Another on-chain analysis indicates that the wallet still holds approximately 1,484 $ETH, suggesting that other tokens acquired from the initial sale may have been moved to different addresses in previous years.

Large-scale inflows into exchanges are closely watched by investors as they can create short-term selling pressure. However, 13,330 $ETH is not large enough to single-handedly drive the entire market when compared to Ethereum’s daily global trading volume.

*This is not investment advice.