8-Year-Old Giant Whale Awakens! Sells 70,000 ETH and Cashes Out 2.2 Billion, Holding Hundreds of Billions in Assets Ready to Strike?

Monitoring data shows that an account of a giant whale, which had been dormant for 8 years, has suddenly come back to life! This veteran player accumulated 389,000 ETH at an average price of $6 in 2016, with a total cost of only $2.4 million. Now, this investment has multiplied by thousands!

Since becoming active on November 7, this whale has sold 73,356 ETH, easily cashing out $224 million, yet still holds 325,500 ETH in the account, which is valued at approximately $1.1 billion at current prices.

Why sell? This sale may be a way to realize some profits while injecting liquidity into the market. However, such a large movement of ETH is definitely worth close attention! Subsequent impact? The actions of whales often have an amplifying effect on market sentiment, and this massive cash-out could trigger short-term volatility, even affecting the overall supply-demand balance of ETH. Strategic significance? The remaining 320,000 ETH could be a bigger bargaining chip; will the whale act at the right moment, or wait for the next bull market to reach new highs? It's worth looking forward to.

—— The market is ever-changing, and the movements of whales are elusive. Want to know more about the underlying logic? Old Chen continues to dig deep for you; follow for more insights!