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ETH Whale Sells Another 30,825 ETH, Weekly Profit Hits $72.83M

An ETH whale that had held for three years sold another 30,825 ETH ($83.03 million) nine hours ago, bringing its one-week total to 112,053 ETH ($300 million) sent to Bitfinex, for a realized profit of $72.83 million. The entity originally withdrew 130,592 ETH ($264 million) from Bitfinex in 2023 at an average price of $2,026.

Original source

AI take

A three-year holder exiting a large position through the same venue it originally accumulated from is a notable distribution signal, since realized profit of this scale reflects conviction in the move rather than a forced unwind. The remaining balance after this week's sales is the key figure to track, as continued transfers to Bitfinex would suggest the exit is ongoing rather than complete. Whether other long-dormant holders follow is the open question for near-term supply dynamics.

Generated by AI for reference only.

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