A long-dormant Ethereum whale has moved 14,000 ETH to the Over-the-Counter platform Wintermute OTC, sparking speculations of a potential massive sell-off.
Blockchain Activity
According to blockchain data, the transaction is valued at approximately $31.92 million at current market prices. The funds originated from an address that amassed 35,932 ETH between September 2016 and December 2018 at an average price of $203.22 per ETH.
Potential Profit
If the sale is completed, the whale will make a profit of approximately $29.07 million based on past purchase prices. This highlights the success of long-term holding of Ethereum and capitalizing on its growth.
Market Impact
While it is unclear whether the whale will completely liquidate its holdings, such large movements could exert short-term selling pressure on the price of Ethereum. However, OTC transactions are generally structured to minimize market disruptions.
Ethereum is currently trading at $2,280, making it one of the most profitable long-term ETH investments in recent history. Market participants will be closely watching for further whale activity, especially concerning key resistance levels.
