A crypto whale, who had been chilling out for eight years, just woke up and moved millions of dollars worth of Ethereum (ETH).
A Whale’s Big Move
This whale, back in 2015, bought a whopping 16,636 ETH for about $186,840 from ShapeShift, a Swiss crypto exchange. That means they got their ETH for an average price of just $11.21!
After holding onto their ETH for eight years, the whale suddenly moved their stash to a Gnosis Safe wallet. They then swapped some of their ETH for Wrapped Ethereum (WETH), a token that’s basically the same as ETH.
Cashing Out
The whale then sold off 788 ETH using the CoW Protocol trading platform, making a cool $1.83 million in USDT, a stablecoin. They still have 15,848 WETH left, worth about $36.43 million.
Huge Gains
This whale is sitting pretty with a total of $38.258 million in crypto assets. That’s a massive return on their initial investment – over 20,300%!
Ethereum’s Rollercoaster Ride
This whale’s big move comes at a time when Ethereum is struggling to stay bullish. ETH started the year at $2,279, reaching a high of $4,070 in March. But since then, it’s lost most of those gains and is currently trading around $2,290.
