Another major on-chain move has been spotted. Cryptonews.net reports that an address linked to BIT has just deposited 40,000 ETH into an exchange, realizing a $9.9 million profit.
This address had previously been accumulating holdings, with its cost basis far below the current price. It timed the exit to a window during ETH price volatility—pretty well played.
A single transfer of 40,000 ETH, valued at market price, is a sizable amount. Over the past few months, it gradually built up its position. During the meantime, ETH has been swinging back and forth. Now it has liquidated in one go, turning the unrealized gains on paper into real, tangible cash.
The on-chain records are publicly verifiable, and this abnormal transfer has already been noticed. Whether such a large transfer actually impacts liquidity depends on how things unfold next. It’s still too early to draw conclusions.
#ETH #OnChain
This address had previously been accumulating holdings, with its cost basis far below the current price. It timed the exit to a window during ETH price volatility—pretty well played.
A single transfer of 40,000 ETH, valued at market price, is a sizable amount. Over the past few months, it gradually built up its position. During the meantime, ETH has been swinging back and forth. Now it has liquidated in one go, turning the unrealized gains on paper into real, tangible cash.
The on-chain records are publicly verifiable, and this abnormal transfer has already been noticed. Whether such a large transfer actually impacts liquidity depends on how things unfold next. It’s still too early to draw conclusions.
#ETH #OnChain