An Ethereum whale or institution that had held ETH for three years has started taking partial profits, according to on-chain analyst Ember. The position has generated a cumulative profit of $66.45 million, with a reported return of 29%.
Ember said the entity withdrew and accumulated 112,100 ETH from Bitfinex three years ago, when the holdings were worth $227 million and ETH was trading at about $2,030. After ETH moved above $2,600, the whale transferred 21,200 ETH from one of its addresses back to Bitfinex around two hours before the report. That transfer was valued at $55.93 million.
The activity points to a partial realization of gains rather than a full exit, based on the amounts cited in the on-chain tracking update.
According to ChainCatcher, on-chain analyst Ember said an Ethereum whale or institution that had held ETH for three years has taken partial profits, with cumulative gains reaching $66.45 million and a return of 29%.
The entity accumulated 112,100 ETH three years ago
Ember's tracking shows that the whale or institution withdrew and accumulated 112,100 ETH from Bitfinex three years ago. At the time, the position was worth $227 million, with ETH priced at about $2,030.
21,200 ETH sent back to Bitfinex after ETH moved above $2,600
After ETH rose above $2,600, the entity transferred 21,200 ETH from one of its addresses to Bitfinex around two hours before the report. The transferred amount was valued at $55.93 million.
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