A long-dormant Ethereum wallet inked $8.66 million in profits after selling 5,001 ETH it purchased back in 2017.
The crypto tracker Lookonchain notes the address acquired 5,001 Ethereum for $1.38 million in 2017, back when ETH cost only $277.
The wallet held its Ethereum trove through multiple bull runs, including when ETH hit its all-time high of $4,878 in November 2021. At that high point, the Ethereum holder would have made $23 million in profit had they sold.
The wallet sold 3,000 Ethereum in early March and hawked the remaining 2,001 ETH earlier this week, according to the crypto data platform Arkham.
Ethereum is trading at $1,882 at time of writing. The second-ranked crypto asset by market cap is down nearly 2% in the past 24 hours and more than 6% in the past seven days.
Lookonchain also notes that crypto whales have been selling Aave (AAVE), a top decentralized lending protocol built on Ethereum.
One whale deposited 30,001 AAVE worth $4.98 million to the digital assets prime brokerage FalconX. Another deposited 11,018 AAVE worth $1.86 million to the crypto exchange OKX at a loss of $293,000.
AAVE is trading at $157.39 at time of writing. The 52nd-ranked crypto asset by market cap is down more than 6% in the past 24 hours and nearly 12% in the past seven days.
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Generated Image: Midjourney
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