OTC whale sells 52,001 ETH, earns $24.5 million profit

A major Ethereum whale, identified as a significant over-the-counter (OTC) investor, has completed a full exit from their position, selling a total of 52,001 ETH and securing a $24.5 million profit, according to data compiled by blockchain analytics firm Lookonchain. The investor initiated their divestment in September, liquidating 42,005 ETH—then valued at approximately $111.89 million—amid broader weakness in cryptocurrency markets. They retained a balance of 9,996 ETH after that sale, which were held until a final transaction reported this week. This latest sale involved moving the remaining 9,996 ETH, worth around $25 million, from the wallet address 0x8c58.

Source: CoinTurk News