Early Ethereum Investor Moves Millions After 837,964% Gains, Sends ETH to Kraken

An early Ethereum investor, inactive for several years, has recently moved a large portion of their holdings.

Blockchain tracking firm Lookonchain reports that this whale participated in Ethereum’s 2014 initial coin offering (ICO), acquiring 150,000 ETH at the Genesis block. The initial investment, which cost $46,500, is now valued at approximately $389.7 million, implying an increase of 837,964%.

After over two years of inactivity, the investor transferred 3,510 ETH, valued at $9.12 million, to the Kraken crypto exchange.

Another Whale Profits From Strategic Ethereum Trades

Lookonchain also reported a second Ethereum investor who made significant profits by accumulating Ethereum during the 2022 bear market. This investor purchased 96,639 ETH in September 2022 at an average price of $1,567, spending $151.42 million. The same investor sold large amounts of ETH during 2023, including a recent sale of 15,000 ETH last Saturday.

This investor first deposited 70,000 ETH, valued at $214.34 million, to Kraken in March 2023. After the sale, the investor now holds 26,639 ETH, worth about $68.81 million. Lookonchain noted that the investor’s strategy of buying in the bear market and selling during periods of higher prices resulted in profits of $131.72 million.

According to Coinmarketcap, Ethereum is trading at $2,621 at the time of writing and by 0.31% in the last 24 hours.

Ethereum continues to attract attention from long-term holders and investors, many of whom have built substantial portfolios through strategic purchases. The latest reports from blockchain tracking services demonstrate the ongoing activity among Ethereum’s early investors and those who take advantage of price shifts during market fluctuations.

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LAWRENCE

Lawrence is a cryptocurrency journalist covering blockchain developments and digital assets.

Lawrence holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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