Ethereum Whale Realizes 670% Profit, Moves Millions to Kraken

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


Read more about Ethereum Whale Realizes 670% Profit, Moves Millions to Kraken


#Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #News, #Regulations

Comments

Popular posts from this blog

Notcoin Launches Major Airdrop Campaign on Telegram, Distributing 80 Billion Tokens

Tether Achieves Record $4.5 Billion Profit in Q1 2024 Amid Surging Treasury Holdings

Cryptocurrency Market Fluctuates: Fear and Greed Index Drops to Fear Level