Ethereum Whale Moves 33,180 ETH to Exchange, Estimated Profit $28.4M

Two wallets believed to belong to a whale have transferred 33,180.48 Ethereum (ETH) to an exchange. The value of the transfer at the time was estimated at $86.93 million (approximately 120.6 billion KRW). Onchain analyst Ai姨 stated on September 19 that both wallets are likely controlled by the same whale entity. The two wallets withdrew ETH from Bitfinex in November 2023 at an average price of $2,002.75 and have held the assets since then. At one point, the ETH holdings were valued at approximately $89.145 million with a profit of around $89.145 million. The entire holding was deposited to an exchange five hours prior, with a deposit price of $2,620 per ETH. Marsbit reported the details. Based on the deposit price, the estimated profit is $20.481 million (approximately 28.4 billion KRW). Depositing assets to an exchange does not necessarily indicate a sell order or execution, so actual selling has not been confirmed. Large holder deposits can carry different implications depending on subsequent fund movements; if sold, market liquidity would increase, but if moved to another personal wallet or storage address, it may simply reflect a change in custody.

Earlier, the publication reported that the average acquisition price for large Ethereum holders ranges between $1,900 and $2,400. The average acquisition price of these two wallets at $2,002.75 falls within this range. The confirmed figures from this movement include the full deposit by both wallets, the deposit price at that time, and the estimated profit size. Further confirmation of fund movements and transaction history will be needed to determine if a sale has occurred.