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There’s an address that’s been quite active over the past month—suspected of cashing out over 30,000 ETH, and this batch of coins had been held for over 8 years.
Starting from October 28, address 0xdEC...4151E gradually transferred a total of 30,603 ETH to a major exchange and Galaxy Digital, with a total value of about $70.55 million. The average deposit price was around $3,299. Looking back through the records, this wallet started accumulating ETH as early as 2017, and it has also had past transactions with Fengbushi Capital and FBG Capital.
Why would such a long-term holder suddenly start selling so intensively? Do they think the price has peaked, or is there another plan? Moves like this from an eight-year-old address are definitely worth paying attention to.