Ethereum Whale Moves Millions of Dollars of ETH After Years of Dormancy, Blockchain Tracking Firm Reports

An original Ethereum investor has made headlines after suddenly moving millions of dollars worth of ETH following years of dormancy. According to blockchain tracking firm Lookonchain, the whale participated in Ethereum’s 2014 ICO and received 150,000 ETH at the Genesis block, which is now valued at a staggering $389.7 million, marking an increase of 837,964%.

The investor recently woke up from their slumber to send 3,510 ETH, worth $9.12 million, to the Kraken crypto exchange, potentially signaling a move to sell on the open market. Another investor highlighted by Lookonchain accumulated over 96,000 ETH during the 2022 bear market and has been strategically selling off portions, including a recent sale of 15,000 ETH on September 21st, resulting in profits of $131.72 million.

Described as a “smart diamond hand,” this investor bought ETH during the bear market and sold during the bull market, making significant gains. The whale purchased 96,639 ETH for $151.42 million in September 2022 and deposited 70,000 ETH for $214.34 million at Kraken since March 6th, holding onto 26,639 ETH valued at $68.81 million.

With Ethereum trading at $2,660 at the time of writing, up over 3% in the last 24 hours, the crypto market continues to see significant movements and opportunities for investors. Stay updated on the latest news and price actions by subscribing to email alerts and following The Daily Hodl on social media platforms.

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