Ethereum "Whale" Wallet Dormant Since 2017 Suddenly Sells Everything,
Profits Over $8.6 Million
After seven years of complete inactivity, a long-dormant Ethereum (ETH)
wallet has quietly "cashed out" its entire holdings from 2017, securing a
massive profit of over $8.6 million, according to Lookonchain data.
Invested When ETH Was Just $277
This wallet originally purchased 5,001 ETH for only $1.38 million in 2017,
when ETH was trading at a mere $277 per coin. Despite multiple price surges
over the years—most notably ETH’s all-time high of $4,878 in November
2021—the wallet holder never sold until now.
If Sold at the Peak, Profits Could Have Hit $23 Million
Had the owner sold at ETH’s all-time high, they could have pocketed up to
$23 million. However, they chose to cash out recently while ETH was trading
around $1,882.
Breakdown of Sales:
-
Early March: Sold
3,000 ETH
-
Recently: Sold the
remaining 2,001 ETH
-
Total Profit: $8.66
million—though not the maximum possible.
Profit-Taking Wave Spreads
It’s not just ETH—many whales are also offloading AAVE, a major lending
project on the Ethereum network.
-
A large wallet sent
30,001 AAVE (worth nearly
$5 million) to the
FalconX brokerage platform.
-
Another wallet deposited
11,018 AAVE ($1.86 million) to OKX, taking a
$300,000 loss.
Currently,
AAVE is plummeting, trading
around $157.39, down
over 12% in the past
seven days.
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