Crypto Trader Deposits 3,128 ETH to Coinbase After $3.87M Loss

A cryptocurrency wallet identified as “0xd5d1” transferred its entire holding of 3,128 Ethereum (ETH), valued at approximately $5.95 million, to Coinbase on Wednesday after holding the position for about six months, according to on-chain data.

The wallet purchased 3,128 ETH roughly six months earlier and had an unrealized loss of more than $3.87 million, or about 40%, at the time of the transfer.

The deposit to Coinbase indicates the assets may be intended for sale, although the transaction alone does not confirm that a sale has been completed.

Ethereum traded at $1,916 at the time of writing, down 48.1% over the past year.

Source: Lookonchain