Summary
- A whale address that held Ethereum (ETH) for five years said it transferred a total of 40,251 ETH to Bitstamp over the past 24 hours.
- The whale said it accumulated a total of 101,000 ETH about five years ago on Binance and Bitstamp at an average purchase price of $660.
- EmberCN said the address moved a total of 75,200 ETH to exchanges, realizing about $204.9 million, a return on principal of about 410%, and currently holds 26,000 ETH.
A whale that has held Ethereum (ETH) for five years appears to have begun full-scale profit-taking by transferring a large amount to exchanges.
According to on-chain data analytics firm EmberCN on the 9th (local time), a specific whale address (0xCADE…e0F2) transferred a total of 40,251 ETH (about $124 million) to the crypto exchange Bitstamp over the past 24 hours. Of that, 26,000 ETH (about $80.16 million) was confirmed to have been moved just one hour earlier. In general, transfers from personal wallets to exchanges are interpreted as a preparatory step for selling.
The address accumulated a total of 101,000 ETH about five years ago on Binance and Bitstamp, among others, at an average purchase price of $660. EmberCN said, “This address has so far moved a total of 75,200 ETH (about $254 million) to exchanges,” adding, “The previous average selling price was about $3,383, and realized profit from this is estimated to reach $204.9 million.” The return on the principal is about 410%.
Despite the large-scale profit-taking, the whale’s holdings remain substantial. The address currently still holds 26,000 ETH, worth about $80.16 million at current prices.
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