Ethereum Participant Unloads $113 Million Worth of ETH in Recent Selling Spree

Whale Sells $113 Million Worth of ETH in Past Weeks

An Ethereum participant in the 2014 ICO has reportedly sold more than $113 million worth of ETH in the last few weeks, according to crypto tracker Lookonchain. The whale dumped 5,000 ETH worth $12.22 million on Monday alone, extending a selling streak that began last month.

Profitable Trades and High Gains

Since September 22nd, the whale has sold a total of 45,000 ETH, amounting to $113.2 million. Despite these massive sales, the address still holds 94,500 ETH worth $230.2 million. The whale received 150,000 ETH at the Genesis block for a total cost of $46,500, resulting in an average price per ETH of $0.31. Selling the recently offloaded 45,000 Ethereum at an average price of $2,516 per ETH yielded a staggering 811,513% gain for the whale.

Other Whale Trades

Lookonchain also highlighted another whale’s profitable trades involving memecoins. The savvy investor sold off 2.66 million POPCAT for $3.61 million at $1.36, generating a profit of around $3.96 million. This whale then purchased 30.22 million GIGA for 1.45 million USDC at $0.048.

Current Market Status

At the time of writing, Ethereum is trading at $2,437. POPCAT is valued at $1.23, experiencing a nearly 7% decline in the last 24 hours, while GIGA is trading at $0.0496, reflecting an increase of over 2% during the same period.

Disclaimer: Opinions expressed in this article are not investment advice. Investors should conduct thorough research before engaging in high-risk investments. All transfers and trades are at the individual’s own risk.