A Crypto Whale Gathers a Massive Amount of Ethereum
A deep-pocketed investor has caught the attention of the crypto community by accumulating a substantial amount of Ethereum (ETH) in recent months. According to blockchain tracking service Lookonchain, this investor has amassed 31,149 ETH, equivalent to approximately $54.9 million, since September.
Recent Purchase
This week, the whale made an additional purchase of 4,865 ETH when the leading smart contract platform was trading at around $2,056. This transaction cost the investor 10 million USDC.
The total amount acquired by the whale includes purchases made from Binance and decentralized exchanges (DEX) since September 19th. At the current price, the profit stands at approximately $9.2 million.
Another Significant Transaction
Lookonchain also observed an investor who participated in Ethereum’s initial coin offering (ICO) in 2014 moving thousands of ETH onto crypto exchange Kraken. This participant initially received 20,000 ETH at Genesis and currently holds 5,172 ETH, valued at $10.7 million.
AI-Focused Altcoin Transaction
In addition, Lookonchain identified a significant transaction involving Fetch.ai (FET), an altcoin focused on artificial intelligence. The Fetch.ai Foundation, a collaboration between Fetch.ai project leaders and Bosch, transferred 10 million FET ($5.3 million) to a new address. The last time this foundation transferred FET was on October 26, 2022.
Conclusion
The accumulation of Ethereum by a crypto whale and the movement of significant amounts of ETH and FET highlight ongoing activity and interest in these cryptocurrencies. It demonstrates confidence in their potential for growth and long-term value.
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