A previously dormant crypto whale transferred 3,888 ETH to Gemini exchange, drawing attention due to the $10.2 million transaction.
The Wallet Address’s Previous ETH Purchase Gains Attention
The mentioned wallet made headlines approximately 1.6 years ago after buying 6,603 ETH from Bitfinex exchange. At that time, the average price of ETH was around $1,785, making the transaction worth $11.78 million.
The Whale’s Transactions Capture Market Interest
This high-value transfer has caught the attention of the crypto market. The wallet address 0x8079e40f35837a103d6aa2c5d7f91896c9f03653 is monitored by data analysis platforms like Nansen. The wallet has remained mostly passive, suggesting a potential strategic change.
Observed Strategic Shift
It remains unclear whether the ETH will be sold on Gemini, but there is speculation about potential price pressure. Whale movements are closely monitored by cryptocurrency traders.
The overall profit indicates a successful strategy. The market is now watching closely for possible future actions by this whale.