Ethereum Whales Are Making Billion-Dollar Conviction Plays
Ethereum whales are making significant investments, with some realizing substantial returns.
Bitmine has added $113 million in ETH to its holdings, bringing its total to over $13 billion.
An original Ethereum ICO participant has transferred $6 million in ETH to Kraken after eight years, realizing a 12,971x return.
- A wallet involved in Ethereum's 2014 ICO became active after nearly eight years, sending 1,500 ETH to the Kraken exchange.
- Originally, the wallet received 20,000 ETH at Genesis, bought for $6,200.
- At current prices, its remaining holdings are valued at $80.42 million, a 12,971x return.
Early investors received 2,000 ETH per BTC for about $0.30 each.
These developments highlight a sharp divide among major Ethereum holders, with some shorting and others buying market bottoms with impressive accuracy.
Author's summary: Ethereum whales make big plays.
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