On-chain analyst Ember reported that after ETH rose on the day, a whale or institutional entity transferred 48,048 ETH to Bitfinex about half an hour earlier, with the tokens valued at roughly $130 million. The same entity had accumulated 124,021 ETH three years ago at a price of $2,028 per coin. Over the past two days, it sold 81,228 ETH at $2,669, locking in a cumulative profit of $52.07 million. The update points to a large holder realizing gains after a multi-year position, with the latest transfer to Bitfinex adding to the sales activity tracked over the past 48 hours.
According to on-chain analyst Ember, a whale or institutional holder transferred 48,048 ETH to Bitfinex about half an hour earlier after ETH moved higher on the day. The transferred amount was valued at about $130 million.
Ember said the entity had accumulated 124,021 ETH three years ago at $2,028. Over the past two days, it took profit by selling 81,228 ETH at $2,669, for a cumulative gain of $52.07 million.
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