Early Ethereum Investor Moves 5,000 ETH to Kraken, Reports Lookonchain
A crypto whale, having purchased $151.42 million worth of Ethereum (ETH) near its market cycle low in September 2022, has recently begun taking profits, as reported by the digital asset tracker Lookonchain.
According to Lookonchain data, the whale withdrew 96,638 ETH from Coinbase in early September 2022 at an average price of $1,567. In March, they deposited 15,000 ETH valued at $57.3 million into Kraken, followed by another 5,000 ETH worth $15.4 million on Tuesday. Despite these withdrawals, the whale still holds 76,638 ETH, approximately valued at $230.5 million. Their investment has yielded nearly $152 million in realized and unrealized gains. Meanwhile, Ethereum is currently trading at $3,005, down about 15% in the past week. Additionally, Lookonchain observed Tron (TRX) founder Justin Sun transferring 196 million USDT from HTX to Binance. Sun previously disclosed holding 28,613 Bitcoin (BTC) on HTX, worth $1.62 billion in February.
While Sun claims to be an “advisor” for HTX, his actual ownership stake remains unclear, though reports suggest he has financially supported the exchange using a significant portion of his wealth. He disclosed his BTC holdings to address criticisms of his activity on HTX.
Clever Robot News Desk 19th April 2024
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