TechFlow reported on September 4 that an inactive whale/institutional address, dormant for 15 months, transferred all of its 10,281 ETH (worth approximately $24.7 million) to Coinbase within 30 minutes, suggesting a potential full liquidation. These ETH were primarily acquired between 2022 and 2023 at an average price of $1,504 through withdrawals from exchanges including FTX US, Gemini, Coinbase, and Kraken. If sold, the transaction is expected to yield a profit of approximately $9.23 million.
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