Dormant Ethereum Whale Awakens, Moves 16,636 ETH

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Long Silence Broken
  2. Selling Strategy
  3. Increased Whale Activity


    4. A dormant Ethereum whale has moved 16,636 ETH after eight years of inactivity, drawing significant attention from the crypto community.

    Long Silence Broken

    The whale originally received the ETH in February 2016 and managed to turn an initial $8,706 investment into an eye-popping $38 million. On September 15 at 7:25 PM (UTC), on-chain data recorded the whale’s first transaction in almost a decade. The 16,636 ETH, initially received through ShapeShift, was moved through a series of three different addresses, finally landing in a new wallet labeled '0x34…e0ba.'

    Selling Strategy

    Rather than simply holding onto the Ethereum, the whale began selling portions of it for stablecoins, a common strategy used to lock in profits or hedge against volatility. According to Arkham's analysis, the whale converted most of the ETH into wrapped Ethereum (wETH), with the wallet now holding 16,199 wETH. Notably, the whale sold 437.8 wETH in five transactions, converting it into $1.025 million worth of Tether (USDT).

    The whale may be preparing for further market moves or diversifying away from Ethereum to secure profits in a stable asset.None

    Increased Whale Activity

    Data shows that they briefly purchased some Livepeer (LPT) tokens before reselling them, indicating that this whale may now be taking a more active role in trading after years of dormancy. The whale's staggering 44,600% return highlights the benefits of long-term holding in cryptocurrency markets.

    This case is part of a larger trend where dormant Ethereum whales are starting to reappear. Regardless of their reasons, each whale awakening creates waves in the market, influencing both price and sentiment.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Investors Skeptical of MegaETH's AI Marketplace Plans

Investors express skepticism about MegaETH's transition to an AI marketplace, questioning its impact on the existing Ethereum scaling network.

user avatarSon Min-ho

Kava Lend Suffers Major Exploit, 55 Million KAVA Tokens Lost

An exploit at Kava Lend has drained approximately 55 million KAVA tokens due to a vulnerability in the DeFi protocol.

user avatarAyman Ben Youssef

Investor Sentiment Plummets as Crypto Fear and Greed Index Hits 10

Investor sentiment has deteriorated, with the Crypto Fear and Greed Index dropping to 10, indicating extreme fear in the market.

user avatarTando Nkube

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.