According to the data from the blockchain analysis platform Nansen and Breadcrumbs, an Ethereum Whale has recently converted ETH worth $ 27.6 million from its wallet into a USDC Stablecoin. It was bought by Eth, Whale in 2016, when the price of Ethereum was only $ 8 and its value was around $ 1500 at the time of selling. In this way, Whale has obtained a return of around 18,000%. Ethereum value INR Click here to know in.
Eth sold in small parts
According to blockchain data, this Whale did not sell its eths at once and sold it in small parts. Each transaction included around 1,400 eth, which were converted into USDC through a Dentralized Change such as Uniswap. Selling Eth on a large scale simultaneously feared spreading FUD in the market (worry, indexion, unsureness), which could have led to a fall in prices. To avoid this, Whale adopted this strategy. Whale sold his holdings without patiently and smartly affecting the market.
Recently after weak performance in the first quarter of the year Future Roadmap of Ethereum Has been released.
Ethereum Whale’s identity
Blockchain technology provides transparency, but at the same time takes care of privacy, in such a situation, the real identity of Whale still remains a mystery. It is difficult to find out whether this Ethereum Whale was a single investor or a big corporation. To be called Ethereum Whale, a wallet must have at least 10,000 eths, which has a current price of about $ 15 million.
Conclusion
This phenomenon indicates that if the investor buys crypto assets at the right time and holds patiently, he can earn good profits by getting a smart cash out. However, the risk always remains, but this type of examples provide a chance to learn for both new and old investors. This decision of Ethereum Whale, which was taken with long -term patience, is an inspiration for today’s investors.
