#ETH $ETH
Just now, the early ETH OG address 0xb5Ab***b168D6 transferred a total of 60,283 ETH to Gemini exchange in batches, suspected of selling operations.
From a longer time perspective, in the past 30 hours, this ETH OG has cumulatively transferred 135,283 ETH to Gemini in batches, corresponding to a value of approximately 393 million USD, with an average transfer price of about 2,908 USD per ETH.
It is worth noting that the historical cost of this batch of ETH is extremely low, with a single cost of only about 102 USD, belonging to the very early holdings.
Based on the current transfer price, the overall profit margin of this operation is as high as about 2750%, with an expected profit of about 379 million USD.
Such a large-scale high-position transfer undoubtedly puts certain pressure on market sentiment and once again confirms that some early whales are gradually cashing out long-term gains. Whether they will continue to transfer to exchanges in the future is worth continuous attention.