An early Ethereum (ETH) investor who received 16,636 ETH in 2016 has sold a portion of their holdings, marking an extraordinary return on investment.<\/p>\n
According to on-chain data shared<\/a> by EmberCN, the whale originally acquired the Ethereum for $5.23 per token, totaling $87,135. As of September 16, 2024, that same amount of ETH is worth more than $37.6 million, representing an astonishing 446x increase in value.<\/p>\n The investor, who held onto their Ethereum for nearly eight and a half years, transferred the entire 16,636 ETH to a new wallet before selling 350 ETH at a price of $2,340 per token, realizing a profit of approximately $819,000.<\/p>\n The sale came with the price of ETH hovering around $2,300, down from its recent one-month high of $2,820. However, despite the dip, the whale\u2019s long-term holding strategy has paid off significantly.nTheir transaction comes in the wake of a series of notable Ethereum movements from other dormant wallets.<\/p>\n Recently, several large inoperative addresses have come back to life, with huge amounts of ETH being transferred after years of inactivity. For instance, on August 7, over 789,000 ETH, valued at $2 billion, were moved from wallets that had been asleep for 3.3 years. These wallets were linked to the infamous PlusToken Ponzi scheme dismantled<\/a> by Chinese authorities in November 2020.<\/p>\n The movement raised curiosity within the crypto community, with many speculating whether the Chinese government was contemplating a move similar to Germany\u2019s when the latter sold<\/a> nearly 50,000 BTC confiscated from criminal enterprises.<\/p>\n In another instance, a wallet containing over 2,000 ETH, last active during the Ethereum Initial Coin Offering (ICO) in 2014, reawakened<\/a> on August 26 after more than nine years of dormancy. Its contents, originally worth $620, are now valued at more than $5 million.<\/p>\n At the time of this writing, the world\u2019s second-largest cryptocurrency by market cap had seen 5.3% shaved off its price in 24 hours.<\/p>\n Across 30 days, the loss is more marked, with ETH prices suffering an 11.8% dip in that period. Additionally, despite a slight 0.2% rise over the last seven days, ETH is underperforming the global crypto market, which is up by at least 1.30%.<\/p>\n That being said, data shows that a majority of those holding the cryptocurrency are still making money. According to IntoTheBlock, 54% of the coin\u2019s owners are in profit at the current price, with 74% holding onto their assets for over a year.<\/p>\n The post Dormant Whale Sells 350 ETH, Reaping Massive 446x Gain<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" An early Ethereum (ETH) investor who received 16,636 ETH in 2016 has sold a portion of their holdings, marking an extraordinary return on investment. According to on-chain data shared by EmberCN, the whale originally acquired the Ethereum for $5.23 per token, totaling $87,135. As of September 16, 2024, that same amount of ETH is worth […]<\/p>\n","protected":false},"author":0,"featured_media":7186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7185"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7185"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7186"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Slumbering Trader Makes $819K Profit<\/h2>\n
Long-Term ETH Holders in Profit<\/h2>\n