An unknown investor holding a substantial amount of Ethereum for about eight years recently transferred 34,000 ETH to the Coinbase exchange. This move raises interest in the potential sale of the asset.
Acquired Ethereum in 2017
According to Arkham data, this whale began accumulating ETH in March 2017, when the price was only $44. The cost of acquiring 34,000 ETH was about $1.5 million. This was a critical time for the future value growth of the asset.
Who is Behind the ETH Transfer?
Arkham's data does not allow for the precise identification of the wallet owner, but it is assumed this could be an institutional entity or experienced whale. This assumption is supported by the long-term holding strategy and purchases from centralized exchanges.
Potential Sale on Coinbase
The recent movement of a large amount of ETH to Coinbase could indicate the owner's intention to convert the asset into cash. This transaction may affect Ethereum's market value in the coming days.
The transfer of 34,000 ETH to Coinbase might indicate a potential large sale. This situation has drawn attention to possible changes in Ethereum's market price.
