A crypto whale who held 10,000 Ether for 900 days decided to sell their cryptocurrency, missing a profitability opportunity of $27.6 million.
Whale's Sale and Profit
The whale acquired 10,000 Ether in October and November 2022 for $13 million, translating to an average price of $1,295 per token. According to blockchain analytics service Lookonchain, the whale missed selling when Ether broke through $4,000, ultimately selling at around $1,578 and making a profit of $2.75 million, whereas peak profit would have been $27.6 million.
ETH Price Dynamics
During the period the wallet held Ether, prices reached a high of $4,015 on December 9. Currently, Ether is trading around $1,426, down 24% over the last week amid a broader market sell-off triggered by tariffs imposed by the Trump administration.
Other Cryptocurrency Sales
In a separate report, Lookonchain noted that the Donald Trump-backed project World Liberty Financial might have also liquidated some of its Ether holdings, selling 5,471 ETH for $8.01 million. Before this sale, World Liberty Financial held 67,498 Ether at an average price of $3,259.
The cryptocurrency market is experiencing ongoing volatility, resulting in significant sales even from large holders. This instance highlights the importance of a strategic approach to cryptocurrency investments.
