One trader who participated in Ethereum’s (ETH) initial coin offering (ICO) has moved some of the funds to the US-based crypto exchange Kraken to sell on the open market.
According to blockchain intelligence firm Lookonchain, the ICO participant recently sold nearly $10 million worth of ETH.
“An Ethereum ICO participant who received 20,000 ETH (cost $6,200, now $86.6 million) just sold another 2,300 ETH ($9.91 million), leaving him with 1,623 ETH ($6.99 million).”
Furthermore, Lookonchain says that another smart contract platform whale has over $100 million worth of unrealized profits after accumulating tens of thousands of Ethereum on Binance.
“Whale 0x3952 withdrew another 8,745 ETH ($37.6 million) from Binance…
Over the past two months, this whale has withdrawn 65,001 ETH ($281 million) from Binance at an average price of 2,611 – now sitting on over $111 million in unrealized profits.”
Finally, Lookonchain says a ‘mysterious institution’ has accumulated over $200 million in ETH just recently.
“This mysterious institution accumulated another 49,533 ETH ($212 million) today.
Over the past week, they have accumulated 221,166 ETH($946.6 million) from FalconX, GalaxyDigital and BitGo.”
Earlier today, Lookonchain found that one investment firm is down hundreds of millions of dollars after attempting to short multiple major cryptos.
In a post on the social media platform X, Lookonchain says that crypto asset manager Abraxas Capital – a firm with around $3 billion in assets under its management – tried to short top cryptos as a hedge on its other positions.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
