Ethereum Whale Moves 135,284 ETH to Gemini, Securing $385M Profit
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 14h ago- Whale Fund Transfer: An Ethereum whale, who accumulated 135,284 ETH at approximately $90 in 2017, has recently moved the entire balance to Gemini, securing an estimated $385 million profit, highlighting a trend of long-term holders resurfacing.
- Market Impact: The transfer involved 85,000 ETH valued at about $248 million and 50,000 ETH worth approximately $145 million, indicating a shift of funds from cold storage to a tradable platform, which could affect market trading volumes.
- Profit Return: The investor's cost basis for accumulating ETH was $12.17 million in 2017, and after nine years of holding, they realized a profit of about $381 million, achieving a 32x return, underscoring Ethereum's long-term investment potential.
- Liquidity Shift: The whale's fund transfer transforms previously inactive ETH into tradable assets, emphasizing the importance of liquidity in the market and potentially prompting similar moves from other long-term holders.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
