An early Ethereum investor has recently made a significant move in the cryptocurrency market after years of inactivity. According to blockchain tracking firm Lookonchain, this investor participated in Ethereum’s initial coin offering (ICO) back in 2014, receiving 150,000 ETH at the Genesis block.
The initial investment of just $46,500 has now skyrocketed in value to approximately $389.7 million, marking an impressive increase of 837,964%. After more than two years of dormancy, the investor has emerged to transfer 3,510 ETH, valued at $9.12 million, to the Kraken crypto exchange for potential sale on the open market.
In another notable development, Lookonchain reports on another investor who has capitalized on the crypto market movements. This investor accumulated over 96,000 ETH during the 2022 bear market and has been strategically selling portions of their holdings during the current bull market. The most recent sale of 15,000 ETH on September 21st resulted in profits of $131.72 million.
This savvy investor purchased 96,639 ETH for $151.42 million from Coinbase in September 2022, then deposited 70,000 ETH valued at $214.34 million to Kraken since March 6th. With a remaining balance of 26,639 ETH worth $68.81 million, this investor has demonstrated a keen understanding of market trends.
Ethereum is currently trading at $2,660, showing a more than 3% increase in the last 24 hours. The cryptocurrency market continues to be volatile, presenting opportunities for investors to capitalize on price movements.
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Image Source: Lookonchain/X
Overall, the cryptocurrency market remains dynamic and full of potential for investors looking to make strategic moves and capitalize on market trends.