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ETH The Ethereum whale, which had been dormant for nearly three years, suddenly woke up and transferred millions of dollars to Kraken ETH
An Ethereum whale address that had been dormant for about three years has been resurrected. On-chain data shows that the address transferred millions of dollars worth of ETH to the Kraken exchange. If the transfer were to sell, the investor could face a loss of approximately $6 million.
Address 0x7C5…77b86 extracted a total of 23,834.17 ETH pieces from February 15 to March 21, 2022, with an average cost of US$2,723.2 per piece. The total value of these Ethereums at the time was approximately US$64.9 million. Subsequently, the investor pledged its assets through Rocket Pool.
After nearly three years of silence, the once-active whale deposited 7,323 ETH into Kraken 10 hours ago. The current value of the transferred assets is estimated to be approximately US$13.96 million.
If whales sell these ETH at current prices, there will be a loss of approximately US$5.98 million compared to the approximate cost in 2022. The total value of ETH investments at this address has also dropped by about 30% compared with the time when the position was initially opened.
* This article does not constitute investment advice.
