An early Ethereum whale identified as pinosaur.eth has exited a long-held ETH position, according to monitoring cited by BlockBeats. The wallet moved 9,618 ETH to Kraken about six hours before the report, with the tokens valued at roughly $24.58 million based on the figures provided in the source. The report said the position generated a profit of $24.21 million, equal to a 65x return. The wallet’s ETH history can be traced back to April 2017, when 7,459 ETH was withdrawn from Bitfinex. At that time, ETH was priced at just $50, according to the same report. The transfer was described as a full liquidation of ETH that had been held for nine years.
BlockBeats reported on Oct. 8, citing on-chain monitoring by Ember, that an Ethereum OG whale, pinosaur.eth, moved all 9,618 ETH held for nine years about six hours before the report.
The transfer sent 9,618 ETH, valued at about $24.58 million based on the source figures, to Kraken. The report said the position produced a profit of $24.21 million, or 65x.
According to the report, the earliest trace of the whale’s ETH dates back to April 2017, when 7,459 ETH was withdrawn from Bitfinex. ETH was priced at $50 at the time.
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.
