Ethereum Whale Unloads $113 Million Worth of ETH, Printed 811,513% Gains From 2014 ICO
- Barbara StreisandOriginal
- 2024-10-10 12:44:28851browse
A participant in Ethereum's 2014 initial coin offering (ICO) has reportedly unloaded more than $113 million worth of ETH in the past couple of weeks.
An early Ethereum (CRYPTO: ETH) participant, who received 150,000 ETH at the Genesis block for a total cost of $46,500, has reportedly sold 45,000 ETH in the past month.
The participant’s average price per ETH was $0.31 during the ICO and sold the 45,000 Ethereum at an average price of $2,516 per ETH.
The participant, whose address was flagged by crypto tracker Lookonchain, sold 5,000 ETH valued at $12.22 million to a Kraken deposit address on Monday.
The participant’s address still holds 94,500 ETH, valued at $230.2 million, at the time of writing.
The participant’s initial average price for ETH was $0.31, and the recent sales were made at an average price of $2,516 per ETH.
At the time of writing, ETH was trading around $2,437, down 0.6% in the past 24 hours.
The participant’s total cost for the 45,000 ETH sold was $14,175, and the sales proceeds amounted to $113.2 million.
Hence, the participant printed 811,513% gains on the unloaded ETH.
The participant’s total realized gains on the 45,000 ETH sold stand at $99.05 million, considering the initial average price of $0.31 per ETH.
The participant’s average entry price for the remaining ETH in the address is $0.29, and the total initial cost for the remaining ETH is $27,000.
The participant’s address received a total of 150,000 ETH at the Genesis block, and the total cost for the ETH received was $46,500, considering the average price of $0.31 per ETH at the Genesis block.
The participant’s address has made several trades in the past, including buying 100,000 GIGA (CRYPTO: GIGA) tokens and selling a large portion of the tokens at a profit.
The address also sold a significant amount of POPCAT (CRYPTO: POP) tokens, booking a loss on the trades.
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