Cryptocurrency transferred a record 47 million to Ethereum

A participant in the initial coin offering (ICO) of the Ethereum project ETH $2,429.80 Bridged Ether (StarkGate) 3.43% Market capitalization $0.18 billion VOL. 24 hours $0.58 billion recently transferred 19,000 ETH worth more than $ 47 million. According to Lookonchain experts, this is not the first large transfer by this user: in the past week, he has transferred a total of more than 31,000 ETH. Earlier, after more than two years of hibernation, this asset owner sent 12,010 ETH to the Kraken crypto exchange.

the «whale» received 150,000 ETH during the ICO, when their value was only $ 46,500. Given the current price of Ethereum, which is currently around $ 2334 per coin, his assets are estimated at almost $ 350 million. If he had sold these coins at the peak, his profit could have been $ 730.2 million.

As a reminder, the price of Ethereum, like many other crypto assets, has recently declined due to macroeconomic factors, and the cryptocurrency lost 9.5% of its value in a week. Thus, on the night of October 2, 2024, the cryptocurrency market experienced a significant drop. Bitcoin temporarily dropped to $ 60,164, while Ethereum reached $ 2,414. After that, both cryptocurrencies partially recovered their positions.