An ethereum whale turns $38,000 into $30 million
08.11.2024
On November 7, 2024, an investor who owned a large amount of Ethereum decided to sell his assets after eight years of hodling. In 2016, he bought over 11,000 ETH for $38,000, and on this day, his holdings were valued at $30.5 million, thanks to the price of ETH rising to $2,800.
In February 2016, one ETH was priced at just $3.46. At that time, the investor put money into Ethereum, and after years of waiting, sold his assets at the peak of the current rate, demonstrating that for some players, the market always provides profitable opportunities for exchange and sale.
What does this mean for ETH’s rate and the market?
The increased interest from large investors in selling assets typically boosts ETH reserves on exchanges. In November, the Ethereum balance on exchanges rose by 400,000 coins, indicating a readiness for active trading. However, despite this short-term increase, the long-term trend shows a decline in reserves on exchanges. In 2024, the amount of ETH on exchanges fell by 7%, maintaining high demand and active exchange operations.
Will Ethereum reach $4,000?
Crypto market analysts, such as CryptoJack and Moon Whales, believe that Ethereum could reach a new level, given sufficient trading volume and user activity. Support from spot ETFs and optimistic forecasts are fueling interest, which may push the price to new highs.
In February 2016, one ETH was priced at just $3.46. At that time, the investor put money into Ethereum, and after years of waiting, sold his assets at the peak of the current rate, demonstrating that for some players, the market always provides profitable opportunities for exchange and sale.
What does this mean for ETH’s rate and the market?
The increased interest from large investors in selling assets typically boosts ETH reserves on exchanges. In November, the Ethereum balance on exchanges rose by 400,000 coins, indicating a readiness for active trading. However, despite this short-term increase, the long-term trend shows a decline in reserves on exchanges. In 2024, the amount of ETH on exchanges fell by 7%, maintaining high demand and active exchange operations.
Will Ethereum reach $4,000?
Crypto market analysts, such as CryptoJack and Moon Whales, believe that Ethereum could reach a new level, given sufficient trading volume and user activity. Support from spot ETFs and optimistic forecasts are fueling interest, which may push the price to new highs.