Whale Buying Ethereum at $60 Made 38x! ETH Sales Started!

After the FED interest rate decision announced yesterday, Bitcoin is approaching the $ 43,000 limit again, while the largest altcoin Ethereum is at $ 2,280.

While BTC and altcoins were gaining momentum after the FED, a new move came from an early Ethereum whale.

Lookonchain said in its post that the early Ethereum investor bought ETH at approximately $60 in 2017 and woke up after 3 years of inactivity.

Accordingly, after 3 years of sleep, the whale deposited 5,000 of its ETHs to the crypto exchange Coinbase.

“A whale, which has been inactive for approximately 3 years, deposited 5,000 ETH (worth $11.3 million) to Coinabse 3 hours ago.

The whale currently has 20,398 ETH (worth $45.88 million) left.”

Lookonchain also added that the whale bought ETH from Bitfinex in 2017 when the price was around $60.

Accordingly, while this whale’s ETH transfer to Coinbase is considered as preparation for a profit sale, if the whale sells these ETHs, it will make a profit of approximately 38 times the purchase price.

A whale that has been dormant for nearly 3 years deposited 5,000 $ETH($11.3M) to #Coinbase 3 hours ago and currently has 20,398 $ETH($45.88M) left.

The whale received $ETH from #Bitfinex in 2017 when the price was ~$60.https://t.co/bSAWFB8XYe pic.twitter.com/WtvEdeNH9L

— Lookonchain (@lookonchain) December 14, 2023

*This is not investment advice.

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