Mysterious Dormant Ethereum Whale Makes Its First Transaction in a Long Time: Estimated Profit $43 Million

A mysterious Ethereum whale using the address 0xbd6 transferred his remaining 12,087 ETH (worth approximately $20.7 million) to Binance.

The whale has been dormant for almost two years since October 2021, when it last carried ETH.

According to data from Etherscan, the cryptocurrency whale made two transactions worth 6,043.5 ETH each to Binance in the last 13 hours. The first transaction was made at midnight and the second before noon. The average price of ETH during these transactions was $1,710.

The whale’s address currently does not hold any ETH, indicating that it has completely liquidated its holdings. However, this wasn’t the first time the whale had deposited ETH on an exchange. In fact, the whale was gradually selling its ETH in July 2021.

According to the data, the whale accumulated most of his ETH in 2017 and 2018 from various exchanges such as Kraken, Bitstamp, Poloneix, and Bitfinex. The total amount of ETH obtained by the whale was 115,061 at an average cost of $193 per ETH. This means that the whale spent approximately $22.3 million to purchase their ETH.

Whale had previously deposited some of his ETH to Kraken in two batches: 2,087 ETH at $2,292 ($4.78 million) on July 27, 2021, and 5,826 ETH at $3,166 ($18.4 million) on August 12, 2021.

Based on the estimated prices and quantities of ETH the whale bought and sold, it can be calculated that the whale made a total profit of approximately $43 million from its ETH transactions.

*This is not investment advice.