Crypto Investor Raises 4.49 Million DAI by Selling 2.720 WETH

According to recent reports, this substantial, large holder of Ethereum recently sold a significant quantity of 2,720 Wrapped Ether (WETH).

The estimated average selling price was $1,651, resulting in a substantial collection of 4.49 million DAI stablecoins. Nonetheless, the intrigue continues.

Instead of simply pocketing the newly acquired DAI, the whale made a wise financial move by investing in MakerDAO. As a result, it is now positioned to earn a 5% interest on its DAI holdings, demonstrating its dedication to maximizing profits.

The history of this whale makes its actions even more extraordinary. The address with the distinct prefix 0x562 has been relatively inactive regarding significant fund movements for an astounding eight years.

This prolonged inactivity raises questions about its intentions and motivations, especially considering that the cryptocurrency landscape has substantially changed.

The history reveals that the 0x562 address was initially created through ShapeShift and Poloneix transfers between August 18, 2015, and September 12, the same year.

The cumulative result was the purchase of 3,491 ETH at an average price of $1,058, with a total market value of $3.7 million.

Notable fund transfers include a sale-related transfer of 400 ETH (equivalent to $432,000 at the time) to an address beginning with 0xa414 on February 10, 2016. The whale converted considerable portions of its ETH holdings into WETH daily on January 20, 2023.