A significant whale with a staggering $173 million profit from Ethereum recently deposited 10,000 ETH, worth $34.2 million, to Kraken just hours before the price of Ethereum plunged.
This whale’s strategic moves are noteworthy:
– Withdrawals: In August and September 2022, the whale withdrew 96,639 ETH from Coinbase at an average price of $1,580.
– Deposits: Since March 2023, the whale has deposited 40,000 ETH to Kraken at an average price of $3,422.
– Holdings: The whale still holds 56,639 ETH, valued at $188 million, with an estimated total profit of $173 million, marking a 113% gain.
A giant whale with a $173M profit from $ETH deposited 10K $ETH ($34.2M) to #Kraken 9 hours ago, just before the #Ethereum price plunged.
Notably, the whale:
➡️ withdrew 96,639 $ETH from #Coinbase at only ~$1,580 in Aug and Sep 2022;
➡️ has deposited 40K $ETH to Kraken at… pic.twitter.com/2GXNb3XtrO
— Spot On Chain (@spotonchain) July 25, 2024
In the past 24 hours, Grayscale has also been active, transferring 140,044 ETH ($485.6 million) to Coinbase Prime and receiving 4,382 ETH ($14.8 million) back, resulting in a net outflow of 135,662 ETH ($470.8 million). According to Grayscale’s website, the firm currently holds 2,489,075 ETH, valued at $7.9 billion.
In the past 24 hours, #Grayscale transferred 140,044 $ETH($485.6M) to #CoinbasePrime, and received 4,382 $ETH($14.8M) from #CoinbasePrime, with a net outflow of 135,662 $ETH($470.8M)!
According to #Grayscale's website, #Grayscale currently holds 2,489,075 $ETH($7.9B).… pic.twitter.com/2LYaRinh4h
— Lookonchain (@lookonchain) July 25, 2024
Meanwhile, BlackRock’s Ethereum ETF wallet received 76,669 ETH ($262.4 million) from Coinbase Prime 10 hours ago. As per BlackRock’s official website, the company holds 79,699 ETH, valued at $277 million.
BlackRock(iShares) Ethereum ETF wallet received 76,669 $ETH($262.4M) from #CoinbasePrime 10 hours ago.
According to #BlackRock's official website, #BlackRock currently holds 79,699 $ETH($277M).https://t.co/sefS6WTlHz pic.twitter.com/pvEGrWxvT9
— Lookonchain (@lookonchain) July 25, 2024
Ethereum ETFs Net Outflow Records $133 Million
The Ethereum ETF market update for July 24 shows a net outflow of $133 million. Grayscale’s Ethereum Trust (ETHE) continued to experience a massive outflow, totaling $327 million. Other ETFs saw smaller inflows compared to the previous day’s data, with ARK 21Shares (CETH) showing a net flow of zero.
🚨 US #ETF 24 JUL: 🟢$45M to $BTC and 🔴$133M to $ETH
🌟 BTC ETF UPDATE (final): +$45M
• The net flow turned positive again after 1 day of being negative.
• #BlackRock (IBIT) had the largest inflow yesterday at $66M.
🌟 ETH ETF UPDATE (final): -$133M
• #Grayscale (ETHE)… pic.twitter.com/uz2YHzgAYJ
— Spot On Chain (@spotonchain) July 25, 2024
These substantial movements by major players indicate significant shifts in the Ethereum market. The whale’s strategic deposits and Grayscale’s large transfers suggest potential market volatility. Investors should closely monitor these developments as they could have far-reaching implications for Ethereum’s price and market dynamics.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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