Ethereum 
$2,429One of the participants in ‘s 2014 initial coin offering (ICO) sold approximately $113 million worth of ETH in the past two weeks.
Sales Activity
On-chain tracker Lookonchain noted that the whale sold 5,000 ETH on Monday by transferring it to the Kraken storage address. This sale is a continuation of the sales wave that started last month.
Since September 22, the whale has sold a total of 45,000 ETH worth $113.2 million. There are still 94,500 ETH in the address and their value is around $230.2 million.
Lookonchain stated that the ICO participant received 150,000 ETH in the genesis block for a total of $46,500. This meant an average of $0.31 per ETH. Recently, he sold 45,000 ETH for an average of $2,516, earning a return of 811,513%.
He noted that ETH was trading at $2,437 at the time of writing.
Other Whale Activities
Lookonchain also highlighted another whale’s memecoin trades. This whale sold POPCAT at a profit and bought GIGA. POPCAT is currently trading at $1.23 and has lost nearly 7 percent in value in the last 24 hours. Gigachad (GIGA) is trading at $0.0496 and has increased by over 2 percent in the last day.
It is thought that such large sales can have significant effects on the market.
Latest Status
Movements made by big whales on Ethereum and other cryptocurrencies can cause fluctuations in the market. It may be useful for investors to follow such developments closely.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
