An original Ethereum investor has suddenly moved millions of dollars of ETH after remaining inactive for years, according to blockchain tracking firm Lookonchain.
Lookonchain notes that the whale participated in Ethereum’s 2014 initial coin offering (ICO) when they received 150,000 ETH at the Genesis block.
According to the blockchain tracking firm, the initial investment that cost just $46,500 is valued today at about $389.7 million – translating to an increase of 837,964%.
The holder just woke up after more than two years of dormancy to send 3,510 ETH, valued at $9.12 million, to the Kraken crypto exchange, where the crypto stack could potentially be sold on the open market.
Lookonchain also reports another investor who printed massive profits by accumulating more than 96,000 ETH during the 2022 bear market and selling huge amounts this year, including the most recent sale of 15,000 ETH on September 21st.
“This is a smart diamond hand, buying ETH in the bear market and selling ETH in the bull market, making $131.72 million!
This whale bought 96,639 ETH($151.42 million) from Coinbase at $1,567 on September 3rd and September 4th, 2022. Then deposited 70,000 ETH ($214.34 million) at $3,062 to Kraken since March 6th, leaving 26,639 ETH ($68.81 million).”
Ethereum is trading for $2,660 at time of writing, up more than 3% in the last 24 hours.
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Generated Image: Midjourney