Ethereum whale profits more than $1 billion from ETH
One of the biggest whales in the cryptocurrency market has once again moved large volumes of Ethereum (ETH) and recorded an impressive profit of more than $1 billion.
The investor purchased 398,889 ETH in 2016, when the token's average price was just $6, investing a total of $2.4 million. With the recent appreciation, the portfolio is now worth around US$1.34 billion.
According to on-chain analytics firm Lookonchain, the whale began selling its ETH on November 7, 2024, marking the end of a long period of inactivity. In an initial move, 73,356 ETH were sold for approximately $224 million, while the address still holds 325,533 ETH, valued at $1.09 billion at the current price of $3,368 per token.
The tokens were acquired between January and March 2016, distributed across 28 addresses. Since then, the price of Ethereum has risen 558 times, providing one of the biggest profits in history for a single investor in the crypto market.
High profit com Ethereum
In addition to this historic whale, other major Ethereum movements attract attention. An investor exchanged 2.02 million Apecoin (APE) for 692 ETH, demonstrating confidence in Ethereum's potential.
Another whale withdrew $6.06 million in ETH to buy the memecoin $Mog, indicating optimism regarding the performance of smaller tokens in the short term.
These moves come amid what many analysts call “cryptocurrency’s biggest bull run,” with high-net-worth investors adjusting their portfolio strategies.
Although the price of Ethereum has fallen 2% in the last 24 hours, following the rejection of Bitcoin's $100,000 psychological resistance, the token still maintains a strong appreciation.
Currently trading at $3,290, Ethereum remains above the 50-day exponential moving average of $2,835, signaling near-term strength.
ETH's relative strength index (RSI) reads 62.80, indicating that the cryptocurrency is not yet overbought and may have room for further gains.
As one of the most important altcoins on the market, Ethereum continues to attract institutional investors such as BlackRock. With the status of “utility altcoin”, the expectation for 2025 is that Ethereum will reach new heights, driven by advances in blockchain technology and greater adoption in the global market.