- This cryptocurrency was mined in 2017
- By liquidating the portfolio, the user received $16 million
- Other Whales Are Also Actively Draining ETH Ahead of Shanghai Mainnet Deployment
On Sunday, March 5, the ancient ETH account suddenly “woke up”. Its owner leaked 10.2 thousand ETH (about $16 million). This cryptocurrency was mined back in 2017.
About it informs lookonchain team. Interestingly, of the indicated amount, the “whale” transferred 1.3 thousand ETH (about $2 million) to the Poloniex exchange.
How much did this user earn on his investment? Unfortunately, it is not known exactly when this ether was mined in 2017. But if we assume that at that time the asset was worth about $400, then the return on investment will be quite significant.
At that time, the “whale” portfolio was worth $4.1 million. That is, his profit was $11.9 million. At the same time, if he had sold the ether at the peak, for example, for $4,600 in 2021, the revenue would have been almost $50 million.
Migration of “whales”
Earlier, we talked in detail about the upcoming update on the Ethereum network called Shanghai. The upgrade was successfully deployed in two test networks, the third is Goerli. In this testnet, the update will take place on March 14th. At the same time, the rollout date on the main network was moved to the first week of April.
Against the backdrop of this news, the “whales” began to broadcast en masse. For example, the Whale Alert team reported that a user leaked $25 million worth of ETH from the Binance wallet. Another transfer was from Coinbase. ETH has already been withdrawn for $41 million.
Immediately after the announcement of the postponement of the deployment date of Shanghai, the price of Ethereum fell by $30. Now the asset is trading at $1,564.08 (-6.07% per day).