On-chain analyst Ember Monitoring pointed out that an early whale who hoarded 21,636 ETH at $6.9 in 2016 sold 10,485 ETH in the last five days for $27.53 million.
The whale withdrew 21,636 ETH from ShapeShift and Poloniex in 2016, with a total value of only $149,800 at a price of $6.9. Since then, the whale has been dormant until it woke up in May this year and started selling ETH for the first time. At that time, the whale first sold 2,900 ETH at $2,980 in exchange for 8.64 million LUSD.
Including the ETH sold in the last five days, the whale has currently sold a total of 13,385 ETH for $36.17 million, with an average selling price of $2,703. In 8 years, the value of this position has increased from the initial $149,800 to the current $56.9 million.