Ancient Whale Sends Millions in ETH to Coinbase – Sell-off Coming?

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U.Today – According to data published by @OnchainDataNerd analytics account, an ancient Ethereum wallet has made another massive crypto transaction, moving millions in ETH to the largest exchange in the U.S. – Coinbase (NASDAQ:COIN).

Along with other large ETH transactions to the same and other large exchanges, this may be indicative of an approaching sell-off.

Old whale sends ETH to Coinbase along with other whales

This whale bought 12,427 ETH on Poloniex at an average price of $11. Now, they are selling 4,153 ETH at $2,984 per coin – that is whopping 27,027.27% growth. The ETH they sent to Coinbase is now worth more than $12 million in fiat.

Another old whale moved 614 ETH to Kraken several hours ago. They bought it five years ago at an average price of $195. The ETH they sent to the exchange is evaluated at $1.79 million. This whale still has 1,329 ETH worth almost $4 million in their cryptocurrency wallet.

More whales sending ETH to exchanges now

Three different unknown whales shoveled 30,020 ETH; 11,192 ETH and 11,207 ETH to this centralized crypto exchange. The first transaction, however, went to Coinbase Institutional. These Ethereum lumps were evaluated at $86,959,077; $32,273,912 and $32,683,631.

Satoshi-era Bitcoin wallets awakening

Each of these wallets contained 500 Bitcoins evaluated at $30,514,975 and $30,494,084. The whales’ potential profit has increased by an astounding 49,274%.

This article was originally published on U.Today

 

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