ETH that lay dormant for nine years has moved
Three wallets suspected to belong to the same whale transferred 2,903 ETH to Coinbase, now worth about $7.22 million. Acquired nine years ago at $9.90, the ETH is sitting on paper profits of about $7.19 million—a return of roughly 250x.
After nine years of inactivity, this is the first time the ETH has been deposited to an exchange, putting expectations of selling pressure on the order book. A single $7.22 million transfer isn’t huge, but with such a low cost basis, someone will likely cash out if prices rebound to resistance.
Would you dare place buy orders around the current price to catch it?
$ETH $ARB $OP #Whale
Three wallets suspected to belong to the same whale transferred 2,903 ETH to Coinbase, now worth about $7.22 million. Acquired nine years ago at $9.90, the ETH is sitting on paper profits of about $7.19 million—a return of roughly 250x.
After nine years of inactivity, this is the first time the ETH has been deposited to an exchange, putting expectations of selling pressure on the order book. A single $7.22 million transfer isn’t huge, but with such a low cost basis, someone will likely cash out if prices rebound to resistance.
Would you dare place buy orders around the current price to catch it?
$ETH $ARB $OP #Whale