Diamond-Hand Whale Sells ETH After 8 Years of Dormancy

The post Diamond-Hand Whale Sells ETH After 8 Years of Dormancy appeared first on Coinpedia Fintech News

After 8 years of dormancy, a diamond-hand whale holding 16,636 ETH is reacting to market volatility. With an estimated buying cost of $87,136 between January 19 and February 23, 2016, when ETH was priced around $5.24, the Whale has started selling their holdings. Shifting the tokens from the previous wallet, “0x996,” to a new wallet “0xe3e,” the whale swapped 437.79 WETH for 1.024M USDT at an average price of $2,341. Despite the massive offloading, the whale continues to hold 16,199 WETH, worth $37.1M. Currently, the estimated total profit from the 8-year-long trade stands at $38M, marking an impressive 436X return.