Two Ethereum (CRYPTO: ETH) whale investors, inactive for six years, were suspected of booking hundreds of millions in profits by selling the second-largest cryptocurrency just before the big market crash on Sunday.
What Happened: The two wallets deposited 135,548 ETH, worth $399 million, to cryptocurrency exchange Bitfinex eight hours before the overnight crash, according to on-chain tracker Spot On Chain. The wallets originally withdrew ETH at just $153.65 on Jan. 5, 2019, when the stash was worth $20.8 million.
It wasn’t immediately clear whether the investors offloaded the entire stockpile. But if they did, they’d be netting a profit of $378.3 million.
Full story available on Benzinga.com