On-chain data flagged by analyst Ai Yi shows a whale address moving ETH for the first time in roughly three years. Between Feb. 15 and Mar. 21, 2022, the address withdrew 23,834.17 ETH at an average price of $2,723.20, a position worth $64.9 million at the time. That ETH was then staked through Rocket Pool. About 10 hours ago, the same address resurfaced and deposited 7,323 ETH to Kraken, a transfer valued at $13.96 million. If the whale sells those tokens at the deposit value, it would record a loss of $5.977 million on that batch alone. The broader holdings tied to the address are now worth 30% less than the original 2022 cost basis, according to the monitoring data. The address went quiet after staking the ETH and did not show any further on-chain moves until this deposit. ChainCatcher relayed the on-chain findings. Details on the remaining ETH were not disclosed.
A whale address monitored by on-chain analyst Ai Yi moved 7,323 ETH to the exchange Kraken about 10 hours ago, after roughly three years of inactivity.
2022 build-up and Rocket Pool staking
The same address withdrew 23,834.17 ETH between Feb. 15 and Mar. 21, 2022, at an average price of $2,723.20. That position was worth $64.9 million at the time. The ETH was subsequently staked through Rocket Pool.
Transferred ETH carries a paper loss
The 7,323 ETH sent to Kraken is valued at $13.96 million. If sold at that value, the whale would book a loss of $5.977 million on the transferred tokens. Monitoring data cited by ChainCatcher also shows the broader position has lost 30% of its value relative to the original 2022 cost basis.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
