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An Ethereum ICO whale that bought 100,000 ETH for $31,000 11 years ago deposited 5,000 ETH worth $11.59 million into a centralized exchange three hours ago, according to on-chain analyst EmberCN. Exchange deposits are typically interpreted as being intended for a sale.
The whale moved 5,000 ETH from an address beginning with 0x5A03 to another address two days ago, then deposited the funds to the exchange in several tranches. EmberCN said the whale also sold 50,000 ETH at $5.47 per coin 10 years ago and now holds 45,000 ETH worth $105 million.