Former ConsenSys ambassador Russell Verbeeten (@rverbee) has resumed large ETH transfers after one year of silence, as reported by on-chain analyst Ai Yi. Seven hours ago, he withdrew 20,426 ETH (approx. $37.26 million) from Aave and distributed it across 10 new addresses.
One address received 4,144 ETH which was then sent to an exchange; the remaining tokens have yet to be moved or sold. On-chain tracing shows that the ETH originated from a decade ago, with an acquisition cost as low as $5.6 per token.
This low cost basis puts the unrealized profit at over 32,000% given today’s price of around $1,824 per ETH, highlighting the extraordinary returns of long-holding early adopters.
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