On March 2nd, COINOTAG News reported significant market movements as the renowned “Ethereum ICO 20,000 Ancient Whale” divested a substantial 1024 ETH, marking their exit from the cryptocurrency landscape. This strategic liquidation has resulted in impressive total profits exceeding $80 million. Initially acquiring 20,000 ETH during the ICO phase, this whale capitalized on the market’s peak by selling 10,000 ETH in December 2021, earning $45.19 million with an average price of $4,519 per ETH. The remaining 10,000 ETH were gradually offloaded starting in November 2023, achieving an average selling price of $3,088.
This large-scale transaction highlights the enduring profitability associated with strategic entry and exit points in the cryptocurrency market. Investors are advised to closely monitor significant sell-offs like this, as they can indicate market sentiment and potential price movements. The performance of ETH, in particular, remains crucial as traders analyze factors influencing its current valuation and market trajectory amidst evolving economic conditions.