A dormant Ethereum (ETH) 
$3,098 whale transferred 3,888 ETH to the Gemini exchange roughly four hours ago. This transaction totaled an impressive value of 10.2 million dollars in ETH. Given the level of assets involved, the likelihood of the whale selling a portion of this amount appears high.
The Wallet Address’s Previous ETH Purchase Gains Attention
The mentioned crypto wallet made headlines approximately 1.6 years ago after buying 6,603 ETH from the Bitfinex exchange. At that time, the average price of ETH was around 1,785 dollars, making this transaction worth 11.78 million dollars.
After transferring 3,888 ETH to Gemini, the whale still retains 2,715 ETH. Based on current market conditions, the total value of these remaining ETH is around 7.12 million dollars.
The transfer generated significant profits for the wallet owner, thanks to the recent increase in ETH prices. To date, the whale has realized a total profit of 5.54 million dollars.
The Whale’s Transactions Capture Market Interest
This high-value transfer has attracted attention within the crypto market. Transactions from the whale’s wallet are monitored by on-chain data analysis platforms like Nansen. The wallet address in question is noted as 0x8079e40f35837a103d6aa2c5d7f91896c9f03653.
On-chain data reveals that this wallet has remained largely passive for some time. However, this sudden transfer is interpreted as a sign that the whale may be adopting a new strategy in response to market movements.
It remains unclear whether these ETH deposits will be sold on Gemini, but speculation suggests a sale is likely. The possibility of this sale putting pressure on prices cannot be dismissed. As is well-known, the movements of whales are closely monitored by cryptocurrency traders.
