In a significant transaction, a major Ethereum whale has deposited its remaining 60,079 ETH, worth $234 million, into Bitfinex. This comes six years after the whale withdrew 87,085 ETH from the exchange at an average price of $153 per token. The whale executed profitable transactions during its holding period, including sending 600 ETH to Tornado Cash in 2020 and redepositing 86,484 ETH back to Bitfinex in two phases. If these transactions were trades, the estimated profit for the whale would be $274.8 million. This highlights the potential rewards of long-term holding and timing in the cryptocurrency market. The whale's activity demonstrates the benefits of holding Ethereum through multiple market cycles and aligns with the ongoing market strength of Ethereum in decentralized finance and other blockchain applications. The transaction also adds to discussions about whale influence and the impact of large holders on liquidity and price movement.
- Content Editor ( blockchainreporter.net )
- 2024-12-07
Whale Deposits 60,079 ETH to Bitfinex, Realizing Over $274 Million in Profit