Ethereum Whale Offloads $38 Million in ETH Holdings Over Three Weeks
A trader who bought 2,817 ETH in 2019 at $210 each has sold a large portion today for $4,163 per token, realizing a 20x return on the investment.
ETH
Fact Check
Evidence from a Binance Square post (Source 4), titled 'Ethereum (ETH) Whale Triggers $38 Million Sell-Off: Details', directly supports the core claim. While the specific timeframe of 'over three weeks' is not confirmed in the provided text snippets, the main facts of the statement—an Ethereum whale selling $38 million worth of ETH—are verified. Other sources discuss different transaction amounts, different cryptocurrencies, or the opposite action (buying), but they do not invalidate this specific event.
Summary
A whale who accumulated 2,817 ETH via Kraken in September 2019 at $210 per token has liquidated 2,538 ETH for $4,163 each, totaling $10.47 million. The original purchase was worth $590,000, yielding a 20x profit of $11.13 million upon sale. This marks a substantial profit for the trader from their long-term Ethereum position.
Terms & Concepts
- ETH: Ether (ETH) is the native cryptocurrency of the Ethereum blockchain, used for transactions and executing smart contracts.
- Kraken: Kraken is a global cryptocurrency exchange known for offering trading services for a wide range of digital assets.