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Ethereum Whale's $2.29M Profit: 1024 ETH Deposited to Kraken
Generated by AI AgentCoin World
Sunday, Mar 2, 2025 7:52 am ET1min read
Ethereum Whale Resumes Activity, Deposits 1024 ETH to Kraken Amid Potential $2.29 Million Profit
On March 2nd, a prominent Ethereum ICO whale, known for holding a substantial amount of 20,000 coins, resumed activity by transferring 1,024 ETH to the cryptocurrency exchange Kraken. This latest move, occurring just six days after the whale's previous transaction, has sparked speculation about a potential sale. Given the whale's original cost basis as low as $0.31, liquidating this extensive holding could yield a remarkable profit of approximately $2.296 million.
Over the past week, this entity has divested a total of 7,070 ETH, amounting to a cumulative value of $18.63 million. This significant activity within the Ethereum market underscores the complex dynamics of whale movements and their impact on the value of cryptocurrencies. Investors remain on alert as such large transfers can indicate shifting market conditions and influence trading strategies going forward.
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