Ethereum Whale Returns After 7 Years, Moves 3,510 MKR Tokens
A long-term Ethereum whale has returned to activity after about seven years of dormancy. The address, which secured around 40,000 ETH in Ethereum's early stage ICO, moved some assets that had not been touched for years to a new address.
The market is focusing on the fact that these assets are Maker (MKR) tokens, rather than Ethereum itself. In September 2018 and May 2019, the whale accumulated 7,020.84 MKR at an average price of $828.92, with a total cost basis of around $5.81 million.
Recently, half of these MKR tokens, valued at about $4.41 million, were moved to a new address, implying unrealized profits of approximately $1.51 million compared to the purchase price.
Despite this, it is difficult to conclude that the whale has started taking profits, as no sign of selling or exchange inflow has been confirmed yet. The transfer could be linked to a change in custody method, wallet restructuring, or asset-management purposes.