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Cryptocurrency sold Ethereum for over $ 37 million for the first time in 8 years
Today, November 7, as the price of Ethereum ETH $2,802.28 Bridged Ether (StarkGate) 7.06% Market capitalization $0.23 billion VOL. 24 hours $1.98 billion rose to $ 2800, the cryptocurrency billionaire, who owns 398,891 ETH (worth $ 1.14 billion), began selling his assets after eight years of inactivity.
According to Lookonchain analysts, he sold 13,400 ETH worth $ 37.38 million at an average price of $ 2,790 within a few hours.
The analysts found 28 wallets allegedly belonging to this whale, which had been accumulating assets on the ShapeShift platform since January 2016, when the price of the coin was only $ 3.5, and in August of that year, the trader transferred the entire deposit to new wallets.
Photo: twitter.com/lookonchain
After the $ETH price rose, a whale dormant for 8 years sold 11,005 $ETH($ 30.56M) at $ 2,777 over the past 2 hours!
This whale accumulated 11,005 $ETH($ 38K at the time) from #ShapeShift at $ 3.46 per ETH in 2016.
The profit? $ 30.52M — an 802x return!https://t.co/f8CtLHvx2t pic.twitter.com/MKB15m19oR
— Lookonchain (@lookonchain) November 7, 2024
Recall that the popular crypto analyst Benjamin Cowen said that based on the historical pattern, when ETH
popular crypto analyst Benjamin Cowen said that based on the historical pattern when ETH $ 2,814.14 bottomed out in the fourth quarter, he expects ETH to drop significantly, which could even go as low as $ 1,000.
Earlier, investments in Solana blockchain applications grew by 54% in the third quarter of 2024, reaching $ 173 million, and at the end of October, the blockchain surpassed Ethereum in terms of daily fees.