Add as a preferred source on GooglePinosaur.eth Moves 9,618 ETH to Kraken After Nine-Year Hold
The transfer was valued at about $24.6 million, while the position was estimated to be up roughly $24.21 million, or 65 times its original value.
A long-dormant whale identified as pinosaur.eth moved 9,618 Ether (ETH), valued at about $24.6 million, to Kraken after holding the tokens for nine years; the position was estimated to be up about $24.21 million.
The gain amounted to roughly 65 times the original value of the holdings. The transfer covered the wallet’s full ETH balance, but the available details do not establish that the tokens were sold.
The holdings were traced to a withdrawal of 7,459 ETH from Bitfinex in April 2017, when ETH traded at about $50. The materials identify that withdrawal as the earliest known source of the holdings but do not explain how the wallet reached 9,618 ETH.
The movement puts a large early-era ETH position into an exchange wallet, though the materials do not specify what will happen to the tokens next.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.