Ancient Crypto Whale Awakens, Transfers Millions to Coinbase and Kraken

IconCryptoNewsTerminal Staff11 Jun, 2024

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Ancient Crypto Whale Awakens, Transfers Millions to Coinbase and Kraken

A dormant Ethereum whale address has stirred after eight years, sending 2,000 ETH (approximately $7.36 million) to Coinbase and Kraken. The whale, which received 6,000 ETH during the Ethereum genesis block in 2015, has largely remained inactive since then. However, recent on-chain analysis by ai_9684xtpa revealed this significant transaction. In addition to the transfer to Coinbase and Kraken, the whale also moved 3,997 ETH to a new address. It is estimated that the whale sold 1,000 ETH three days before the recent transfers. Despite this, the whale still holds a substantial amount of ETH, with an unrealized profit of approximately $14.36 million.

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