ICO-Era Whale Re-Enters Market with Massive Ethereum Purchase
- An ICO-era wallet purchased 8,492.8 ETH via four Cow Swap orders at approximately $2,794 each on Sept. 21.
- The wallet executed trades totaling $23.73 million in stablecoins for ETH, and repaid roughly 809 WETH of debt on Aave.
- A separate entity accumulated an additional 21,520 ETH starting Sept.18, resulting in about $3.25 million in paper gains.
- Corporate treasuries like Tom Lee’s Bitmine added significant amounts of ETH last week, contrasting the trend of spot ether ETFs shedding $140 million.
- Bitcoin also saw a price surge, reaching up to $87,395 recently.
An ICO-era whale made a notable return to the market by purchasing a substantial amount of Ethereum at around $2,794 per coin through Cow Swap orders on September21.The transaction included repayment and withdrawal activities on Aave.The move coincides with other large-scale Ethereum acquisitions by different entities and corporate treasuries amid fluctuating ETF interest.
Despite current losses from this purchase,the whale’s historical investment during Ethereum’s ICO remains highly profitable.This activity signals ongoing interest in Ethereum among large holders and institutions.(Source )
