Ethereum Whale Sells 14,000 ETH via Wintermute OTC, Profits Over $29M
An early Ethereum investor recently offloaded 14,000 ETH through Wintermute OTC, a leading crypto trading platform.
Whale Sells 14K ETH for $31.92M
The transaction, worth approximately $31.92 million, occurred on February 27 at 22:58 UTC. Blockchain analytics firm Arkham Intelligence revealed that the wallet (0x95B…A90e7) moved 14,000 ETH to Wintermute OTC in two transactions of 7,000 ETH each.
Origin of the Funds
The ETH came from an older wallet (0x035…8dFC7) that initially accumulated 35,932 ETH between September 2016 and December 2018 at an average price of $203.22 per ETH, totaling around $7.3 million. Over time, this wallet has distributed funds across multiple addresses, some of which have previously interacted with Wintermute OTC.
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Whale Nets Over $29M in Profit
Typically, assets sent to Wintermute OTC are exchanged for stablecoins, suggesting that this whale may have secured a profit of roughly $29.07 million from the sale. After the transaction, the wallet now holds only 0.515 ETH ($1,093), while the source wallet retains 49.562 ETH ($105,140).
Ethereum Selloff and Market Impact
This large ETH sale comes amid a broader market downturn, causing concern among investors. On February 27, the Fear and Greed Index plummeted to 10, reflecting extreme fear in the market.
In just 13 hours, whales and institutions sold 8,074 ETH at an average price of $2,431. Adding to the pressure, asset management giant BlackRock transferred 30,280 ETH ($71.85 million) to Coinbase, potentially preparing for further sales.
Ethereum spot ETF issuers have also seen significant outflows. BlackRock’s iShares Ethereum Trust (ETHE) recorded a $70 million withdrawal, while Grayscale Investments and Fidelity sold a combined $24.5 million in ETH.
As the market stabilizes, the Fear and Greed Index has rebounded to 21. Ethereum is currently trading at $2,179, reflecting a 5.91% drop in the past 24 hours and a 22.33% decline over the past week.
Ethan Collins is a cryptocurrency researcher and financial writer specializing in Bitcoin, blockchain innovation, and market strategies. With years of experience in the crypto space, he simplifies complex trends for investors and enthusiasts. Based in Washington, USA, Ethan is passionate about exploring the future of digital finance.
📩 Contact: Ethan.Collins@cryptoclubber.com
