Wallet that bought ETH for $5 starts selling: 468x profit!
A mysterious Ethereum (ETH) whale has started selling tokens it bought for $5.23 in 2016.
In February 2016, #Ethereum (ETH) was trading at around $5. At the time, an investor bought 16,636 ETH from the ShapeShift crypto exchange. Chinese crypto data platform EmberCN revealed that the Ethereum was purchased for $5.23 per unit, with a total cost of $87,006.
The blockchain platform found that the investor had held onto his Ethereum for more than eight years before selling it. The investor sold 350 ETH for $2,340 per token on September 16, generating an initial $819,000 in revenue. The mysterious investor still has over $38 million in $ETH after this sale.
The sale made by the whale naturally created fear in the sector. The fact that he sold the $ETH he collected at $ 5.23 as of September 16 may mean that the whale is expecting a decline. Considering the indecision in the market, Ethereum's job seems difficult at the moment. In addition, the Ethereum/Bitcoin parity has reached its lowest level in the last three years. In short, the leader of altcoins is being crushed by BTC.
As of the writing of the news, Ethereum, which changed hands at $ 2310, may face selling pressure as long as it cannot exceed $ 2500. This level, which is important both technically and psychologically, is of critical importance in the short/medium term. Crypto investors can closely follow the $ 2500 band and news flow during this process.
