Summary
- A whale who has held Ethereum (ETH) since 2016 reportedly sold 7,000 ETH and deposited an additional 1,000 ETH over the past month.
- The whale realized approximately $19,745,000 in profit from the transaction and still holds a total of 26,992.67 ETH.
- The market said that long-term holders' profit-taking is a factor that amplifies Ethereum's short-term volatility.
A whale that has held Ethereum (ETH) since 2016 has recently shown active selling activity.
On the 30th, on-chain analyst AI said, "A whale that bought Ethereum in 2016 at an average price of $203.22 is estimated to have sold 7,000 ETH through Wintermute last month, with an average transfer price of $3,024," adding, "This amounts to a realized profit of approximately $19,745,000 (about 29 billion won)."
Also, one hour earlier this whale was confirmed to have deposited an additional 1,000 ETH (about $3,010,000) into Wintermute. The address still holds a total of 26,992.67 ETH, which is worth approximately $80,990,000 (about 119 billion won) at market price.
The whale has been continuously transferring Ethereum to exchanges and market makers during the recent downturn, drawing attention to the possibility of selling, and the market sees long-term holders taking profits as a factor that increases Ethereum's short-term volatility.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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