Over the past week, Ether (ETH) has never been closer to its last all-time high in 2021.
Could this be the perfect opportunity for several wallets dating back to the Ethereum ICO era to organize themselves to make record profits? We take a look.
While some observers had been predicting for months that Ether’s performance would remain stagnant, the current period seems to be sparking renewed interest among investors. The reason for this is the Ethereum blockchain’s central position in the stablecoin market, stable cryptocurrencies that have become very popular with traditional financial markets and other banking structures.
This situation has brought ETH close to its previous all-time high in 2021, with the price rising to just 2% of a new record on August 14. This is an opportunity for some early investors to consider taking very lucrative profits.
Indeed, several wallets dating back to the time of Ethereum’s ICO — with no apparent direct link — have been waking up in recent days. The first of its kind was detected by blockchain monitoring account Lookonchain on August 16, following activity recorded after more than a decade of dormancy.
The purpose of the transfer remains unknown, involving 334.7 ETH purchased in 2014 for $104. As a result, its holder can now enjoy a multiplier of 14,269x on their initial investment, now estimated at $1.5 million.
Historic whale moves $43 million in ETH to exchanges
These amounts are impressive. However, they are nothing compared to another historic Ethereum whale, who has a portfolio estimated at almost $43 million. This account has also been identified as one of the first participants in its ICO, with a slightly more explicit strategy than in the previous case.
Indeed, data available on the blockchain monitoring site Arkham Intelligence reports multiple transfers made in recent days. Among these transactions, the cryptocurrency exchange platform Kraken appears very clearly on several occasions, for a total of $24 million.
According to analysts at X Onchain Lens, all of these transfers were directed to the Kraken platform. This strategy clearly suggests that the holder is preparing to take well-deserved profits, given the prospect of a new all-time high for Ether (ETH).
At the same time, the price of ETH has fallen significantly in recent days. This puts it around 15% below its previous all-time high of $4,870, reached in 2021. Can we expect a new record before the end of the summer?
