Early ETH buyers who purchased four years ago made large transfers, with $22.6 million in spot ETH likely sold to take profits.
35 minutes ago
Per TradingBeats monitoring, an address that has held and remained inactive since purchasing and withdrawing ETH four years ago first transferred 0.01 ETH to Coinhako’s deposit address as a test, then sent 8,249.86 ETH at 14:49, valued at approximately $22.64 million, with its balance nearly emptied after the transfer. It is reported that this entity had three associated addresses that collectively withdrew 4,615.15 ETH from Binance back in 2022, and spent about 9.0009 million USDT via four on-chain transactions to acquire 3,635.02 ETH. These funds were aggregated to the address 0xcbe3 in August 2023. Calculated based on the price at each withdrawal time, the reference cost of this batch of ETH is roughly $2,181.8 per ETH, with an unrealized profit of around $4.6359 million, a return of approximately 25.76%, leading to suspicion that the address has completed selling. Address: 0xCbE36050a50E3d3e6077494f4d9Ad81Ec3A6E7d4
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