According to the latest findings by on-chain analyst Yu Jin, a significant liquidation event recently occurred, involving the transfer of 30,874 ETH (worth approximately 77.71 million USD) from an old wallet of a well-known whale to the Kraken exchange. This transaction marks the end of the whale's strategic accumulation that began in September 2022, when the whale purchased 120,874 ETH at an average price of 1,647 USD each.
The investor started realizing profits last May, strategically transferring assets through six transactions at an average selling price of 2,732 USD. This meticulous approach ultimately yielded an impressive profit margin, with total earnings reaching 131 million USD. The shrewd actions of this "whale" highlight the ongoing investment dynamics of institutional investors in the Ethereum market and underscore the potential for timely acquisitions and profit-taking in the current turbulent environment.
