ETH whale with a 3-year position moves 21,229 ETH to Bitfinex

On Sept. 19, BlockBeats reported, citing monitoring by EmberCN, that a whale or institutional holder that had accumulated 112,066 ETH after withdrawing the tokens from Bitfinex three years ago has now sent part of that stash back to the exchange. The original accumulation took place when ETH was trading at about $2,030, putting the position’s cost basis at roughly $227 million. As ETH recently moved above $2,600, the unrealized profit on the broader holding at one point reached about $66.45 million, equal to a return of around 29%. Roughly two hours before the report, the entity transferred 21,229 ETH from one of its addresses to Bitfinex. Based on the figures cited in the report, that tranche was worth about $55.93 million. EmberCN said the move may indicate a partial profit-taking transaction.