Ethereum Whale Realizes 670% Profit, Moves Millions to Kraken

A previously inactive Ethereum (ETH) holder has recently emerged, seemingly to capitalize on substantial gains of nearly 700% on over 47,260 ETH they acquired between June and August 2017 at an average price of $240 per token.



According to the on-chain analysis service Lookonchain, this individual has now transferred the remaining 39,260 ETH, valued at $87.5 million, to the popular cryptocurrency exchange Kraken. This significant increase in value is in contrast to the initial worth of around $11.34 million when they originally acquired the assets, resulting in a potential net profit of $78 million, representing a gain of approximately 670%.



This move coincides with a period during which institutional investors have notably increased their holdings of ETH, demonstrating renewed confidence in the cryptocurrency's long-term


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