In a recent development, COINOTAG reported on April 8th, that a significant player in the Ethereum (ETH) market has divested a substantial holding after an impressive 900-day accumulation period. According to insights from LookIntoChain, this crypto whale executed the sale of 10,000 ETH, translating to approximately $15.71 million at the time of the transaction. This strategic move follows their initial investment of the same quantity of ETH acquired at an average cost of $1,295 during late 2022.
Interestingly, this account holder refrained from liquidating their assets even when ETH prices exceeded $4,000. The current sale reflects a profit margin of around $2.75 million, which, at its apex, showcased potential earnings of $27.6 million. Such actions highlight the complex decision-making processes employed by institutional investors in the volatile landscape of cryptocurrency.