Investor increased his profit by 1,000,000% after investing in Ethereum

A large Ethereum holder who purchased 1 million ETH during the initial coin offering (ICO) at $ 0.31 has now made a whopping 1,024,416% profit. Over the past month, this «crypto whale» has made 17 transactions, transferring 48,500 ETH to the OKX exchange, which is equal to approximately $ 154 million.

Initially, in 2015, the investor purchased 1 million ETH at a price of just $ 0.31 per coin. Now ETH is worth more than $ 2636, which has brought this investor a record profit.

Despite the fact that some of these assets have already been sold, the investor still has 15,600 ETH in his account. If sales continue, this could add another $ 41 million in potential pressure to the market.

However, despite the large sales, the total amount of Ethereum on exchanges continues to decline, indicating a tendency for cryptocurrency to accumulate. Since the beginning of August, ETH reserves on exchanges have fallen from 17.1 million to 16.8 million, indicating that the asset may be accumulating near recent local lows.

As a reminder, an unknown cryptocurrency owner accidentally spent $ 90,000 in fees for transferring $ 2,200 in Ethereum. The user spent 34.26 ETH to transfer 0.87 ETH. The large-scale error was reported by user X under the pseudonym DeFiac, who drew attention to the Etherscan data.