Participants in Ethereum's 2014 new coin offering (ICO) reportedly unloaded more than $113 million worth of ETH in the past few weeks.
Cryptocurrency tracker Lookonchain notes that the whale dumped 5,000 ETH worth $12.22 million into a Kraken deposit address on Monday, continuing a selling spree that started last month.
Since September 22nd, Whale has sold a total of 45,000 ETH (worth $113.2 million). This address still holds 94,500 ETH worth $230.2 million.
Lookonchain notes that ICO participants received 150,000 ETH in the Genesis block at a total cost of $46,500, meaning the whale's initial average price per ETH was $0.31. The recent sale of 45,000 Ethereum at an average price of $2,516 per ETH means that the whale made a profit of 811,513% on the ETH it unloaded.
At the time of writing, Ethereum is trading at $2,437.
Lookonchain also highlights another whale's highly profitable meme coin trading.
“This clever whale sold POPCAT and bought GIGA for profit! In the last 20 hours he sold 2.66 million POPCATs ($3.61 million) at $1.36 and sold 3.45 million POPCATs ($4.48 million) at $1.36 ) remained, making a profit of approximately $3.96 million.
He then spent 1.45 million USDC to buy 30.22 million GIGA at $0.048. ”
POPCAT is trading at $1.23 at the time of writing, down nearly 7% in the past 24 hours.
Gigachado (GIGA) is trading at $0.0496, up more than 2% in the past day.
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