ETH Whale Partially Cashes Out After 3-Year Hold, Locks 29% Profit

An Ethereum (ETH) whale or institutional address estimated to have held the cryptocurrency for approximately three years recently sold a portion of its holdings, recording an approximate 29% profit according to on-chain analyst AmberCN. The whale withdrew around 112,066 ETH from Bitfinex roughly three years ago at a cost of about $227 million based on then-current market rates, with an average purchase price per ETH of approximately $2,030. Two hours prior, the address deposited 21,229 ETH (worth around $55.93 million) back into Bitfinex, which is typically interpreted as a selling intention. As of now, ETH is trading at $2,608.28, up 6.47% according to CoinMarketCap.