Dormant Ethereum Whale Moves $37M in ETH to OKX
- Two dormant wallets transferred a total of 14,700 ETH to OKX on Sept. 14, valued at $36.94 million.
- The ETH was initially acquired in August and October of 2021, when prices were approximately $3,184 and $4,220 per coin.
- A third wallet from 2021 sent all its 1,500 ETH to MAX Exchange by Sept. 15.
- Onchain analysis suggests the wallets belong to the same entity due to shared funding sources and synchronized transfers.
- The current value of the transferred ETH is about $20 million less than its original purchase price.
This significant movement of Ethereum indicates potential strategic repositioning by large holders amid fluctuating market conditions. The transactions highlight a substantial loss compared to initial acquisition values during the previous bull market.
The transfer underscores the volatility in cryptocurrency markets, as the wallets’ combined holdings have depreciated by roughly $20 million since their original purchase in 2021. Source
