A long-dormant investor who participated in Ethereum’s initial coin offering (ICO) recently sold off a huge chunk of their holdings.
Millions in ETH Sold
Blockchain tracker Lookonchain reported that this investor unloaded nearly $30 million worth of ETH in less than four weeks. The ETH was sent to the Kraken exchange, strongly suggesting a sale. Specifically, they sold 16,500 ETH for an average price of $1,779, and still hold 13,500 ETH. At current prices, that remaining ETH is worth around $24 million.
Memecoin Losses and Bitcoin Gains
Lookonchain also highlighted other interesting activity in the crypto market. Two large holders of the TRUMP memecoin sold off significant amounts, resulting in losses of over $3 million combined.
Meanwhile, another whale made a killing, profiting over $9 million from long positions in Bitcoin (BTC), Ethereum (ETH), and other altcoins. This included a $5 million unrealized profit on a recent 309 BTC purchase.
Disclaimer: This information is for general knowledge and does not constitute financial advice. Always do your own research before making any investment decisions.
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