Ethereum Whales Make Waves: 33,701 ETH Sold Amid Price Surge

In a significant move within the cryptocurrency market, COINOTAG News reported on November 7th that two long-term holders of Ethereum (ETH) executed sales totaling 33,701 ETH, valued at approximately $89.72 million. This activity coincided with a notable uptick in ETH prices. The prominent Ethereum ICO whale, known as “0xB8c”, made a strategic deposit of 25,000 ETH, translating to about $65.67 million, into the Kraken exchange at a price point of $2,627. Despite this sale, the whale holds a substantial reserve of 64,450 ETH, worth around $181.2 million.

Additionally, another notable whale, identified as “0x0c1”, emerged from dormancy after an impressive hiatus of 8.75 years. This whale liquidated 8,701 ETH for an approximate price of $2,764, securing $24.05 million USDC. Post-sale, “0x0c1” still retains 2,304 ETH, accumulating an impressive profit of $30.48 million, which corresponds to an astonishing 689x return on investment.