A crypto whale is drawing attention for accumulating a massive amount of Ethereum (ETH) within the last couple of months.

According to blockchain tracking service Lookonchain, a deep-pocketed investor has amassed 31,149 ETH worth about $54,900,000 since September.

Lookonchain says that this week, the whale purchased 4,865 additional ETH while the leading smart contract platform was trading at around $2,056.

“A giant whale spent 10 million USDC to buy 4,865 ETH at $2,056 …

This whale has bought a total of 31,149 ETH ($54.9 million) at ~$1,763 from Binance and DEX (decentralized exchange) since September 19th. At the current price, the profit is ~$9.2 million.”

Source: Lookonchain/X

Ethereum is trading for $2,024 at time of writing, down 1.6% in the past 24 hours.

Lookonchain also spotted an investor who participated in Ethereum’s initial coin offering (ICO) in 2014 moving thousands of ETH onto crypto exchange Kraken.

“An Ethereum ICO participant deposited 3,000 ETH ($6.2M) to Kraken. This Ethereum ICO participant received 20,000 ETH (the cost is ~$6,200) at Genesis and currently holds 5,172 ETH ($10.7M).”

Source: Lookonchain/X

Next up, Lookonchain spots a significant transaction of artificial intelligence-focused altcoin Fetch.ai (FET).

The Fetch.ai Foundation, a collaboration between Fetch.ai project leaders and electronics giant Bosch, moved millions of FET to a new address.

“The Fetch.ai Foundation transferred 10M FET ($5.3 million) to a new address. The last time the Fetch.ai Foundation transferred FET out was on October 26, 2022, when it transferred 10 million FET to Binance.”

Source: Lookonchain/X

Fetch.ai is trading for $0.526 at time of writing, down 2.8% in the past 24 hours.

Generated Image: Midjourney

The post ‘Giant Whale’ Accumulates Over $54,000,000 Worth of Ethereum (ETH) Since September: Lookonchain appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ November 29, 2023 7:23 pm