Crypto News: Ethereum whale earns $2.14 million – is there a risk of further sales?

Bitcoin is falling slightly in the last 24 hours and is trading just below $95,000. Meanwhile, Ethereum can even invest around 2 percent today and build up some strength again. The market has neutralized and sentiment is no longer overheated. Now this is also because some investors take their profits. An Ethereum whale recently made $2.14 million in profit and is sitting on more book profits. But is there a risk of further sales and should we stay away from ETH?

Ethereum whale cash out: Over $2.14 million already earned

Spot on Chain data most recently shows the activity of an early Ethereum investor. After 9.4 years of inactivity, a participant in the Ethereum ICO phase recently deposited 631.1 ETH worth $2.14 million on Coinbase. This transaction occurred during a market downturn. Such deposits clearly indicate a sale.

The origin of this movement lies in the Ethereum Genesis block from July 2015. At that time, the investor received 1,940 ETH, which was only worth $601 at the time. The current equivalent value of this token is over $6.5 million. This is where the “Diamond Hands” paid off. The analysts emphasize that the remaining holding of 1,309 ETH is worth around $4.4 million. The latest deposit on Coinbase indicates a sell-off, which, in terms of market strategy, often happens in phases of higher prices. Until the sale there are only book profits; now the crypto investor has received millions.

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Late redemption of Christmas presents? A #Ethereum The ICO participant returned after 9.4 years of rest and deposited 631.1 $ETH ($2.14 million) to #Coinbase in the last 10 hours as the market recovered!

In July 2015, this participant received 1,940 $ETH (worth only $601 at the time) for… pic.twitter.com/9o1qjlInWV– Spot On Chain (@spotonchain) December 27, 2024

However, a single Ethereum whale deciding to sell does not provide sufficient basis for a negative Ethereum forecast. Such transactions can have many reasons. The sale does not necessarily signal a lack of confidence in Ethereum.

Meanwhile, Ethereum spot ETFs are even recording constant inflows at the end of 2024, while Bitcoin ETFs tend to report outflows. This development indicates a change in the preferences of institutional investors. This could indicate increased expectations for Ethereum’s performance in the coming year. There is also an opposite trend here.

Spot ETF flows tell a story!

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#Ethereum Spot ETFs are seeing consistent inflows at the end of December.

Photo: Clickout Media

Photo: Clickout Media

Bitcoin spot ETFs are facing more outflows, indicating a possible shift in investor preferences.

Photo: Clickout Media

Early signs of #ETH take the lead? pic.twitter.com/tmmrQvhFmM—Leon Waidmann | Onchain Insights

Photo: Clickout Media

(@LeonWaidmann) December 27, 2024

Ethereum alternative: Solaxy launches the first layer 2 for Solana – what’s behind it?

Solana has been able to outperform Ethereum in investor preference over the past two years. Solana is considered one of the most powerful blockchains, but there is room for innovation in this ecosystem too. A Layer 2 solution on Solana could introduce a new dimension of efficiency and cost reduction despite the network’s already existing scalability.

For Solaxy pre-sales

The Solaxy project pursues precisely this goal of becoming the first Layer 2 solution on Solana. With a focus on off-chain transaction processing, Solaxy aims to reduce the load on the L1 and strengthen the stability of the network in the long term. Solaxy could contribute to the performance of the blockchain, particularly in times of high utilization, for example due to hype surrounding meme coins.

An important feature of Solaxy is the integration of Ethereum liquidity. Through multi-chain functionality, the project enables a connection between Solana and Ethereum, creating synergies between the networks. This innovation could significantly expand the possible uses of Solana. In addition, Solaxy offers an attractive staking program with an impressive return of still over 600 percent APY. Immediately after purchase it is possible to stake SOLX tokens.

The interest in Solaxy was also reflected in the successful advance sales. With around $6.5 million in funds raised, it shows that many investors want to bet on the first Solana Layer 2. Getting started – ETH, BNB, SOL and credit cards are supported – takes just a few minutes. Anyone who finds Solaxy exciting has the opportunity to purchase SOLX tokens at the current price in less than 24 hours.

For Solaxy pre-sales

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