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November 29, 2023

‘Giant Whale’ Accumulates Over $54,000,000 Worth of Ethereum (ETH) Since September: Lookonchain

By Daily Hodl Staff

A crypto whale is drawing attention for accumulating a massive amount of Ethereum (ETH) within the last couple of months.

According to blockchain tracking service Lookonchain, a deep-pocketed investor has amassed 31,149 ETH worth about $54,900,000 since September.

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Lookonchain says that this week, the whale purchased 4,865 additional ETH while the leading smart contract platform was trading at around $2,056.

“A giant whale spent 10 million USDC to buy 4,865 ETH at $2,056 …

This whale has bought a total of 31,149 ETH ($54.9 million) at ~$1,763 from Binance and DEX (decentralized exchange) since September 19th. At the current price, the profit is ~$9.2 million.”

Source: Lookonchain/X

Ethereum is trading for $2,024 at time of writing, down 1.6% in the past 24 hours.

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Lookonchain also spotted an investor who participated in Ethereum’s initial coin offering (ICO) in 2014 moving thousands of ETH onto crypto exchange Kraken.

“An Ethereum ICO participant deposited 3,000 ETH ($6.2M) to Kraken. This Ethereum ICO participant received 20,000 ETH (the cost is ~$6,200) at Genesis and currently holds 5,172 ETH ($10.7M).”

Source: Lookonchain/X

Next up, Lookonchain spots significant transaction of artificial intelligence-focused altcoin Fetch.ai (FET).

The Fetch.ai Foundation, a collaboration between Fetch.ai project leaders and electronics giant Bosch, moved millions of FET to a new address.

“The Fetch.ai Foundation transferred 10M FET ($5.3 million) to a new address. The last time the Fetch.ai Foundation transferred FET out was on October 26, 2022, when it transferred 10 million FET to Binance.”

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Source: Lookonchain/X

Fetch.ai is trading for $0.526 at time of writing, down 2.8% in the past 24 hours.

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