Every now and then whales wake up who have been keeping certain coins in their wallets for years. This time it concerns an Ethereum whale, who sold an Ether for millions of dollars, which he had purchased around the price of 700 dollars.
In total, this whale made a profit of around $10 million from these transactions. It involved a wallet with 17,768 Ethereum.
Efficiency of 400 percent
Patience is a virtue and that certainly applies to the crypto world. It sometimes seems easy to the outside world to buy coins and keep them for a few years, but that is of course not. If your portfolio drops by 80 percent during a bear market, it can be very difficult to convince yourself that it is a good idea not to sell.
This whale succeeded in this and achieved a return of 400 percent.
After the introduction of the Spot Bitcoin ETFs, it seems very difficult for Bitcoin to ever completely disappear from the stage, but that was very different for a long time. Since the early years, everyone thought that governments were the enemy and that it was only a matter of time before there would be a complete ban on the digital currency.
In principle, Bitcoin was developed as an “antidote” to government money. As far as Bitcoin is concerned, everything seems to be secured now, but that security is not yet there for all other projects, until we also get ETFs for that.
When will Ethereum get its ETF?
The next big question within the industry is when Ethereum will get its ETF. Opinions are currently strongly divided about this. While there was initially a lot of hope for the introduction of the Spot Ethereum ETFs in May 2024, this now seems to be no longer the case.
According to Bloomberg ETF expert Eric Balchunas, there is currently only a 25 percent chance of an Ethereum ETF in May.
Why? Because the American financial regulator, the Securities and Exchange Commission (SEC), is studiously silent on this subject. While around the approval of the Spot Bitcoin ETFs, all kinds of things came out about the conversations between the applicants and the regulator.
What could be the cause of that? Many people think that Proof-of-Stake could be a reason for the SEC to assess Ethereum differently.
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Source: https://newsbit.nl/mysterieuze-whale-verkoopt-voor-miljoenen-dollars-aan-ethereum/
