Ethereum Whale Resurfaces with Millions in Potential Losses

An Ethereum whale that had been inactive for nearly three years has suddenly reappeared on the scene.

The address, which had not made any significant transactions in over two years, withdrew a total of $64.9 million worth of ETH between February 15 and March 21, 2022. The investor staked their assets via Rocket Pool after this initial withdrawal.

However, in a surprising move, the whale deposited 7,323 ETH into Kraken just 10 hours ago, with an estimated value of approximately $13.96 million at current prices.

If the whale sells these ETH at current levels, it will realize a loss of around $5.98 million compared to its approximate cost in 2022. This represents a total decrease of about 30 percent in the address's ETH investment since the initial position was created.