An Original Ethereum Investor Transfers $9.96 Million Worth of ETH to Kraken
An early investor in Ethereum (ETH) deposited 6,000 ETH valued at $9.96 million into the Kraken cryptocurrency exchange on Monday, as reported by crypto tracker Lookonchain.
Ethereum ICO Participant Holds Massive Profit
This investor participated in Ethereum’s initial coin offering (ICO) back in 2014 and received 254,908 ETH when the cryptocurrency was priced at just $0.31.
Over the course of nine years, the value of this investment has skyrocketed by an incredible 531,361%, with ETH currently trading at $1,647.
Low Transaction Fee for Large ETH Deposit
The blockchain-tracking service Etherscan shows that the investor paid a mere $2.80 to process this substantial ETH deposit.
Whale Still Holds Over $80 Million Worth of ETH
According to Etherscan, the investor still possesses more than 49,070 ETH, which is approximately worth $80.7 million.
Possible Dusting Attacks Detected
On multiple occasions over the past nine years, the investor’s wallet received small amounts of Ethereum. This suggests potential dusting attacks where hackers send trace amounts of cryptocurrency to various personal wallets in an attempt to compromise privacy.
Bearish Behavior from Large Ethereum Holders
Santiment, a crypto analytics firm, revealed that major Ethereum holders displayed bearish behavior during Q2 and Q3 of this year. They were actively selling off their holdings after accumulating significantly in late 2022 when prices reached a one-year high of around $2,120.
Hot Take: Ethereum Investor’s Massive Gain
An original Ethereum investor from the 2014 ICO has moved a substantial amount of ETH to Kraken, resulting in a staggering increase in value. With over $9.96 million worth of ETH deposited, this investor has witnessed a massive 531,361% gain over nine years. The transaction fee for this deposit was surprisingly low, and the investor still holds over $80 million worth of ETH. However, there have been indications of possible dusting attacks on the investor’s wallet. Furthermore, Santiment’s data shows that large Ethereum holders have been selling off their holdings after significant accumulation last year.
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