On November 7, as Ethereum’s price surged to $2800, a whale holding 398,891 ETH ($1.14 billion) began liquidating assets after eight years of inactivity, according to analysts at Lookonchain.
A whale with 398,891 $ETH($1.14B) began selling today after being dormant for over 8 years!
In the past 6 hours, 13,400 $ETH($37.38M) has been sold at an average price of $2,790.
We identified 28 wallets that all started accumulating $ETH from #ShapeShift in January 2016, at an… pic.twitter.com/cy4C0EmuJh
— Lookonchain (@lookonchain) November 7, 2024
Within a few hours, the whale sold 13,400 ETH ($37.38 million) at an average price of $2790.
Analysts identified 28 wallets likely belonging to this whale, which had been accumulating assets on the ShapeShift platform since January 2016, when the coin was valued at $3.5. In August of the same year, the trader transferred the entire deposit to new wallets.
Previously, this user sold 11,005 ETH ($30.56 million) at $2777, achieving an 802-fold profit.
After the $ETH price rose, a whale dormant for 8 years sold 11,005 $ETH($30.56M) at $2,777 over the past 2 hours!
This whale accumulated 11,005 $ETH($38K at the time) from #ShapeShift at $3.46 per ETH in 2016.
The profit? $30.52M — an 802x return!https://t.co/f8CtLHvx2t pic.twitter.com/MKB15m19oR
— Lookonchain (@lookonchain) November 7, 2024
Meanwhile, analysts at OnchainLens noted that Ethereum co-founder Vitalik Buterin deposited 2.09 million STRK ($799,000) into the Binance exchange.
Just In: Vitalik (@VitalikButerin) has deposited 2.09M $STRK, worth $799K, into #Binance.#Vitalik received these tokens over the last 5 months when they were worth $1.51M, currently incurring a loss of $714K.
He still has 15,862 $STRK, worth $6K… pic.twitter.com/ha8gd50xVq
— Onchain Lens (@OnchainLens) November 6, 2024
He received these tokens over the past five months when they were valued at $1.51 million. The current unrealized loss stands at $714,000.
Buterin retains an additional 15,862 STRK worth $6000.
Previously, Bitcoin reached a new all-time high of $76,243 amid the US elections.