Ethereum whale sells: 500x return on investment
According to Lookonchain, a long-dormant Ethereum whale has recently become active again. In early 2016 he bought 398,889 ETH at an average price of about $6 each.
According to Lookonchain, a long inactive Ethereum whale has recently become active again. In early 2016 he bought 398,889 ETH at an average price of about $6 each. At the time, these coins were worth about $2.4 million together. Over the years, that amount grew to an impressive $1.34 billion. That means he has more than 500x’d his investment.
Now this wealthy crypto investor has sold ETH for the first time in more than eight years. Since November 7 the address has sold 73,356 ETH, worth about $224 million. The wallet still holds 325,533 ETH, worth roughly $1.1 billion.
The whale thus keeps the vast majority of his ETH holdings. His expectations about Ethereum's future price development, the second-largest crypto, seem therefore not too negative.
Ethereum meanwhile faces strong underperformance vs Bitcoin and Solana, a major Layer-1 rival. Bitcoin is approaching the $100,000 mark, and also Solana has now hit a new all-time high.
