Why did this Ethereum OG WHALE start selling? – Passionategeekz

It seems that a few real Ethereum Whales are moving again. After a slumber of two years old, an old “Ethereum OG” wallet has started moving again. How? Well by selling 501 ETH this week. Let’s see what exactly is going on.

A long -sleeping Whale wakes up

According to data from the X-Account Lookonchain, two Ethereum-Wallets, which were not active for years, proceeded again this month. One of these wallets first did a test transaction of 1 ETH, and then move another 500 ETH to an exchange.

At the time of writing, that is worth around € 1.2 million, a solid sum for an investment that previously remained untouched for years.

History of large sales

This is not the first time that this Whale has taken action. In 2023, large quantities of ETH were already sold:

• 2,286 ETH (around $ 4.3 million)
• 1,500 ETH (approximately $ 2.8 million)

And as if that wasn’t enough, an ICO participant from 2014 also appeared again after almost ten years to pass his full 2,000 ETH (about $ 5.1 million) to Binance.

Influence on the market and ETFs

Undoubtedly it asks you: “Does this impact on me as a smaller investor?”On June 16, the course of Ethereum fluctuated firmly: a peak above $ 2,680, followed by a decrease to around $ 2,580. Such movements can make everyone a little nervous, but remember that the cryptomarkt is fickle.

Spot-Ethereum ETFs saw that day in total nearly 3,750 ETH outflow: especially the Fidelity Ethereum Fund ETF (with more than $ 9 million in sales) and Invesco Galaxy (around $ 444,000). Nevertheless, the weekly flow overall remains positive, with net 191,057 ETH intake. That shows that there are also enough buyers ready.

Why did this happen?

There can be all kinds of reasons for these great sales:

• Reinvestment plans: Maybe our Whale wants to distribute its profits over new projects.
• Practical matters: Sometimes you simply need fiat money for unforeseen expenses.
• Market sentiment: fast price increases and decreases stimulate some holders to take a profit.

What can you do then? As a (starting) investor it is wise to stay calm and not to panic in the event of price falls. Make sure you always stay informed of the latest news and the on-chain data, so that you better understand what is happening in the market. In addition, think carefully about what your personal goals and risk tolerance are, so that your investments match your financial situation and plans.