Ethereum Whale Transfers 135,284 ETH Worth $397 Million to Gemini Exchange
Arkham Intelligence reports the dormant Ethereum whale completed its full 135,284 ETH move to Gemini this week, totaling $397 million over two transactions.
ETH
Summary
A dormant Ethereum whale finalized its transfer of 135,284 ETH, valued at about $397 million, to the Gemini exchange. According to Arkham Intelligence, the last move occurred on the 27th with $255 million worth of ETH sent in a single transaction, completing a two-transaction shift that began earlier with 50,000 ETH. The whale, active since 2017, originally purchased ETH at around $90 per coin and retains an unrealized profit of roughly $385 million despite the transfers.
Terms & Concepts
- Whale: An individual or entity holding large amounts of cryptocurrency, capable of significantly impacting market prices.
- ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, used for transactions, decentralized applications, and smart contract execution.
- Gemini: A U.S.-based cryptocurrency exchange founded by the Winklevoss twins, providing trading and custody services.