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The Daily Hodl 2025-02-04 12:45:49

Ethereum Whale Dormant for Six Years Deposits $228,600,000 in ETH to Bitfinex Just Before Crash: Lookonchain

Ethereum Whale Dormant for Six Years Deposits $228,600,000 in ETH to Bitfinex Just Before Crash: Lookonchain

Blockchain tracking firm Lookonchain says one savvy trader moved a massive amount of Ethereum ( ETH ) to a crypto exchange right before the severe market correction. According to Lookonchain, an anonymous trader suddenly woke up after six years to move 77,736 ETH valued at $228.6 million at the time to crypto exchange Bitfinex ahead of Ethereum’s plummet to around $2,100 this weekend. Lookonchain says the wallet had initially withdrawn 77,736 ETH worth $11.9 million at the time from Bitfinex on January 5th, 2019, when the price per ETH was just $153. Source: Lookonchain/X Meanwhile, Lookonchain reports that some crypto whales are buying Ethereum’s dip, including an entity known as “7 Siblings.” “Another wallet of 7 Siblings bought 5,382 ETH ($14.5 million). 7 Siblings bought a total of 50,429 ETH ($126 million) [Monday]. The last time ‘7 Siblings’ bought a large amount of ETH at the bottom was on August 6th, 2024, when the market crashed.” Source: Lookonchain/X In August, Lookonchain noticed that 7 Siblings accumulated $129 million worth of ETH near the $2,300 level. “While you guys were panic selling due to the market crash, the entity ‘7 Siblings’ with $1.57 billion assets quietly bought 56,093 ETH ($129 million) at the bottom! 7 Siblings started buying when the price dropped to $2,600 and continued until the price dropped to $2,191, a total of 12 hours of buying! The average buying price is $2,305.” ETH is trading for $2,883 at time of writing, up 1.1% in the last 24 hours. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Ethereum Whale Dormant for Six Years Deposits $228,600,000 in ETH to Bitfinex Just Before Crash: Lookonchain appeared first on The Daily Hodl .

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