The wallet of an Ethereum whale that had been inactive for three years sent all 2,119 ETH it held, worth approximately $5 million, to Coinbase.
According to a post by Lookonchain dated October 29, the transfer from the address beginning with 0x6D30 took place about seven hours before the post. The platform described the wallet as an “OG,” associating it with an early Ethereum participant.
All ETH moved to an exchange after three years of silence
The 2,119 ETH transferred was valued at $4.99 million. What makes the transaction noteworthy is that, after remaining inactive for a long time, the wallet moved its entire ETH balance to an exchange.
Lookonchain suggested that early Ethereum participants were becoming active again and selling. The concrete transaction reported for this wallet was a deposit to Coinbase; no separate information was shared indicating that the ETH was sold on the exchange.
Not investment advice.