Recently, a participant involved in Ethereum’s 2014 initial coin offering (ICO) has made headlines by selling over $113 million in ETH over a span of two weeks. This Ethereum ICO whale executed a significant unloading of assets as noted by Lookonchain.
The crypto analytics platform reported that the major sell-off included 5,000 ETH, valued at $12.22 million, transferred to Kraken earlier this week, marking an ongoing selling trend that began in September.
Massive Ethereum Sell-Off by ICO Participant
From September 22nd, the initial coin offering participant sold 45,000 ETH, resulting in $113.2 million in returns. Following these transactions, the participant retains 94,500 ETH, valued at approximately $230.2 million, within their address. This strategic liquidation reflects a dynamic market activity as Ethereum experiences price fluctuations.
Lookonchain revealed that this Ethereum ICO participant initially acquired 150,000 ETH at the Genesis block, costing $46,500. This meant the average price paid was a mere $0.31 per ETH. With the latest sales averaging $2,516 per Ethereum, the participant achieved a staggering 811,513% gain. As of now, Ethereum’s trading price stands at $2,437.
Other Whales Making Waves in Crypto Market
In addition to Ethereum’s activity, Lookonchain also highlights another whale engaged in lucrative memecoin transactions. According to their report, this savvy trader has capitalized on POPCAT and GIGA price movements recently.
“This intelligent trader unloaded 2.66 million POPCAT ($3.61 million) at $1.36 in the last 20 hours, leaving behind a holding of 3.45 million POPCAT ($4.48 million), and realizing a profit of nearly $3.96 million! The trader then deployed 1.45 million USDC to purchase 30.22 million GIGA at a rate of $0.048.”
The current trading price for POPCAT is $1.23, reflecting a nearly 7% dip within the last day, while Gigachad (GIGA) has seen a 2% increase, now trading at $0.0496.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own research when making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are under your own responsibility, and potential losses are your burden. The Daily Hodl does not endorse the trading of any specific cryptocurrencies.
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