A large investor in Ethereum, known as a crypto whale, has reportedly started cashing out some of their holdings, according to Lookonchain, a digital asset tracker. The whale withdrew 96,638 ETH from Coinbase, with an average price of $1,567, between September 3rd and September 7th, 2022. In March, they also deposited 15,000 ETH worth around $57.3 million to Kraken, and recently sent another 5,000 ETH worth $15.4 million to the exchange. Despite these withdrawals, the whale still holds 76,638 ETH, valued at approximately $230.5 million. In total, the trader has made a profit of nearly $152 million from their initial investment of $151.42 million. At the time of writing, ETH is trading at $3,005, experiencing a 15% decline over the past week.

In addition to this, Lookonchain observed that Justin Sun, the founder of Tron (TRX), withdrew 196 million USDT, the top stablecoin, from the crypto exchange HTX and deposited it into Binance on Tuesday. In February, Sun publicly revealed that his HTX account held 28,613 Bitcoin (BTC), worth about $1.62 billion at the time. HTX, which was previously known as Huobi, is a Seychelles-based trading giant. Sun claims to be an “advisor” for the exchange, but it is unclear whether he has an actual ownership stake. Nonetheless, he has reportedly used a substantial portion of his fortune to support the exchange. Sun disclosed his BTC holdings in response to critics who accused him of not actively using HTX.

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