A big-time Ethereum investor, who got in early during the 2014 ICO, has been cashing out big time. This “whale” has sold over $113 million worth of ETH in just a couple of weeks.
Whale’s Big Sell-Off
According to crypto tracker Lookonchain, the whale has been steadily selling off their ETH since September 22nd. They recently moved 5,000 ETH (worth about $12.22 million) to a Kraken account, adding to their already massive sales.
This whale originally got 150,000 ETH for just $46,500 back in the early days of Ethereum. That’s an average price of $0.31 per ETH! They’ve been selling their ETH for an average price of $2,516, which means they’ve made a huge profit of over 800,000%!
Memecoin Whale Makes Moves
Lookonchain also spotted another whale making some smart moves with memecoins. This whale sold off a bunch of POPCAT, a memecoin, for a profit and then bought a bunch of GIGA, another memecoin. They made a profit of almost $4 million on their POPCAT trade and then used that money to buy GIGA.
Remember: This is just a snapshot of the crypto market. Investing in crypto is risky, so always do your own research before making any decisions.
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