Ethereum Early Investor Moves $36 Million to Coinbase After Six Months
An early Ethereum investor, who originally bought into the cryptocurrency in 2015, has moved a significant amount of $ETH to a crypto exchange after a six-month hiatus. The wallet, monitored by Lookonchain, transferred 13,330 $ETH, valued at roughly $36.37 million, to Coinbase. At the time of the transfer, Ethereum was priced around $2,728.
The investor initially acquired 170,000 $ETH during Ethereum's initial sale, averaging a purchase price of $0.31. The total cost back then was about $52,700. Today, those same $ETH are worth approximately $461 million.
The whale’s latest sale generated a profit of $36.21 million. On-chain data suggests the wallet still holds around 1,484 $ETH, implying that other tokens from the initial sale may have been relocated to different addresses in prior years.
While large inflows to exchanges can signal short-term selling pressure, the 13,330 $ETH transferred is not substantial enough to impact the entire Ethereum market, given the cryptocurrency's daily global trading volume.