Ethereum Whale Moves $36 Million to Coinbase After Six Months of Inactivity

A major Ethereum investor who bought into the Ethereum initial sale in 2015 has broken a six-month silence by transferring millions of dollars worth of ETH to a cryptocurrency exchange. The wallet, tracked by Lookonchain, sent 13,330 ETH, valued at around $36.37 million, to Coinbase when the price of Ethereum was approximately $2,728.

The investor originally purchased 170,000 ETH during the 2015 sale at an average price of $0.31, spending roughly $52,700 in total. Today, the remaining holdings from that purchase are worth about $461 million. The latest sale alone generated a profit of $36.21 million.

The wallet still holds about 1,484 ETH, suggesting that other tokens from the initial sale may have been moved to different addresses over the years. Large transfers to exchanges often raise concerns about potential selling pressure, but the 13,330 ETH transferred is not significant enough to impact the broader market.