Ethereum Investor Unloads $29.35 Million in Ether Following Period of Inactivity: According to Lookonchain Data
Hey there, folks! Let's dive into some exciting crypto news and analysis shared by Lookonchain and The Daily Hodl. We're talking about major players in the game, otherwise known as whales, and their moves in Ethereum, Trump memecoin, and Bitcoin. Here's the lowdown.
Ethereum's Sleeping Giant Awakens
An Ethereum holder who participated in the initial coin offering (ICO) has shaken off the dust after years of inactivity, trading nearly $30 million worth of ETH in less than four weeks. Lookonchain, a blockchain tracker, shared news of the whale's massive sale on social media, revealing the entity moved its coins to the crypto exchange Kraken and seems to be selling them off.
Since resurfacing on April 17th, the Ethereum holder has sold over 16,500 ETH at an average price of $1,779, earning a profit of $24.82 million while currently holding an additional 13,500 ETH. Will this be the last we see of this long-dormant investor, or will there be more ETH up for grabs in the near future? Only time will tell. And for what it's worth, ETH is currently down by 4.8% at the moment, trading at around $1,830.
Deep-pocketed TRUMP Memecoin Holders Cashing Out
If you're a TRUMP memecoin fan, you might want to perk up your ears. Lookonchain reports that deep-pocketed holders of the memecoin are offloading it as well, albeit at a loss. Two big whales shed 765,128 TRUMP, incurring a loss of $2.34 million! Will they ever recoup their losses and reap the rewards?
Bitcoin and a Slew of Altcoins: A Profitable Long Haul?
On a more positive note, Lookonchain discovered a whale who's been long on Bitcoin (BTC) and a variety of altcoins (including Ethereum) for the past month, raking in more than $9 million in profits. And it gets even better - this whale snapped up 309 BTC at an average price of $79,792, currently sitting on unrealized profits of over $5 million. Could this long-term strategy be a smart move for other investors to follow?
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- Cryptocurrency whales have been active in the market, with an Ethereum holder from the initial coin offering selling nearly $30 million worth of ETH,
- One whale has made over $9 million in profits by holding Bitcoin and a variety of altcoins, including Ethereum, for the past month.
