The Ether whale that made 436 times profit woke up after 8 years and made a sale
While it is almost certain that the US Federal Reserve (Fed) will start to cut interest rates for the first time in years this week, risky assets, including cryptocurrencies, are now expected to rise. Despite this, an Ether whale that has been asleep for 8 years woke up after years and sold some of its ETH and converted it to USDT.
A whale who was an early Ether investor made a sale for the first time in about 8 years. According to the information provided by the on-chain tracking platform Spot On Chain, a person who bought when the Ether price was $ 5.2 and never moved his coins until today, made his first sale during the night hours.
The account, whose ETH is worth $ 38 million and has made a 436 times profit to date, first moved its coins to another wallet and then converted them to Wrapped Ether (WETH). The investor, who converted 437 WETHs into USDT, earned $1 million.
This person still has 16,199 WETHs worth approximately $37 million.
On the other hand, today the Tether Treasury also printed 1 billion USDTs. The Tether company also created $35 billion worth of USDT in 2023, when Bitcoin rose from $26,000 to $73,000.
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