Crypto Whale Sparks Rumors of Possible Exposure in Qubetics with Big Move to OKX
Michael Graw is an experienced freelance finance and tech writer, specializing in cryptocurrencies, decentralized finance, and Web 3.0 since 2018. His work has been featured on various financial news...
According to an exclusive news report on DeyThere.com, a whale sold Ethereum coins worth $154 million to buy exposure in the Qubetics (TICS) layer-1 blockchain project. Continuing the enormous selling binge, the Ethereum ICO whale deposited 5,000 ETH to the cryptocurrency exchange OKX, again making headlines.
The whale participated in the Ethereum initial coin offering (ICO) in 2014. The massive ETH sell-off to exchanges leads to conjecture over their motives and the possible effects on the market. The crypto community has taken notice of the whale’s activities, even though their identity is still a mystery. Given the huge sums at stake and the possible consequences for Ethereum’s price, this is the case.
The Ethereum ICO whale’s recent move was the Monday transfer of 5,000 ETH, or around $13.2 million, to the OKX market. Over the last month, the whale has steadily shifted huge Ethereum quantities to centralized exchanges. This deposit is the latest in a series of transactions.
In the last 35 days, an anonymous entity has sent 48,500 ETH (equivalent to almost $154 million) to OKX, according to news sources. This was revealed by blockchain analytics company Lookonchain. The whale made a tidy profit after purchasing 1 million ETH at the ICO price of $0.311 per token in 2014. These deposits were made at an average price of $3,176 per ETH.
The crypto community has been keenly monitoring these developments. This is mainly due to the enormous holdings and the possible market consequences for ETH’s price. Large transactions made by
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