Dormant Whale Makes Significant Ethereum Move After Five Years

On February 2, a significant transaction involving Ethereum was detected. According to BlockBeats On-chain Detection, a whale or institution that had been inactive for five years made a substantial move by going long on Ethereum. The entity collateralized 44,500 ETH to secure a loan of 70 million USDT and proceeded to purchase an additional 30,222 ETH at an average price of $2,316. The Ethereum used for collateral was withdrawn from a centralized exchange five years ago when the price of ETH was $1,354. This transaction has resulted in a profit of $42.57 million.