Ethereum Whale Sells 18,700 ETH for $34 Million Before Upgrade
A long-term holder sold 18,700 ETH, valued at about $34.11 million. This whale acquired ETH during the 2015 ICO for $0.31 each, totaling approximately 76,000 ETH, with most holdings dormant until recently.
- The whale's recent transactions include transferring 2,700 ETH to Kraken, following a sale of 14,000 ETH for $24.75 million.
- Currently, the whale holds 11,000 ETH, worth around $20.2 million.
- All sales have been executed through Kraken, securing substantial profits given the original purchase price.
These activities coincide with the upcoming Ethereum Pectra upgrade, which is expected to improve network functionality. Exchanges like Binance are temporarily suspending withdrawals and deposits for Ethereum-based tokens in anticipation.
Market indicators show tight ETH-BTC Bollinger Bands, suggesting potential volatility in prices post-upgrade.