Ethereum Whale Awakens After 5 Years With 650% Gains To Transfer $16M Crypto By Benzinga

Benzinga – After five years of dormancy, a crypto whale has awakened, only to transfer Ethereum (CRYPTO: ETH) worth $16 million.

What Happened: On-chain data analytics platform Lookonchain said a massive whale holding transferred 10,266 ETH on Monday.

The Ethereum whale saw a whopping 654% gain since it was first mined. As per CoinGecko, ETH was trading at $208 on July 25, 2017, when it was first mined.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

Lookonchain said among the transfers, 1,322 ETH worth $2 million was transferred to the crypto exchange Poloniex.

An address that has been dormant for more than 5 years transferred 10,266 $ETH ($16M) out.

The 10,266 $ETH was obtained through mining in 2017.

Among them, 1,322 $ETH ($2M) was transferred to #Poloniex.https://t.co/hsXiBh5iS2 pic.twitter.com/7L1nkx6Fe6

— Lookonchain (@lookonchain) March 6, 2023

Price Action: At the time of writing, ETH was trading at $1,562 down 0.36% in the last 24 hours, according to Benzinga Pro.

Read More: Bitcoin, Ethereum, Dogecoin Slide As Silvergate Crumbles: Analyst Says Apex Crypto’s Streak ‘Has Been Broken’

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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