Ethereum Whale Resumes Activity After 7-Year Drought
An Ethereum whale that first appeared in 2015 during the cryptocurrency's initial coin offering (ICO) has made its first move in seven years, shifting a significant portion of a position that had been idle for about seven years.
The address is particularly notable because it is one of the oldest identifiable holders on the network, having initially amassed 40,000 $ETH during Ethereum's early stages.
However, rather than its $ETH balance, the recent move concerns its Maker (MKR) holdings. The investor accumulated 7,020.84 MKR between September 2018 and May 2019 at an average acquisition price of roughly $828.92.
The original cost of the entire position was approximately $5.81 million. The whale moved 3,510.42 MKR to a new address after being stationary for years. The transferred position carries about $1.51 million in unrealized profit and is valued at about $4.41 million at the reported market price.
The tokens have simply relocated to a different address, with no evidence of them being sold or deposited on an exchange. This distinction makes the transaction less bearish than a direct exchange deposit.