A large cryptocurrency investor known as a “crypto whale” has decided to cash out some of their holdings in Ethereum (ETH), according to data from Lookonchain, a digital asset tracker. The whale withdrew a total of 96,638 ETH from Coinbase between September 3rd and September 7th, 2022, at an average price of $1,567. This move comes after the whale had previously deposited 15,000 ETH worth around $57.3 million to Kraken in March and sent another 5,000 ETH worth $15.4 million to the exchange on Tuesday.

Despite these withdrawals, the whale still holds 76,638 ETH, which is roughly valued at $230.5 million. Taking into account both realized and unrealized gains, the trader has made a profit of nearly $152 million from their initial investment of $151.42 million in ETH.

At the time of writing, ETH is trading at $3,005, experiencing a decrease of nearly 15% in the past week. Lookonchain also reports that Justin Sun, the founder of Tron (TRX), recently withdrew 196 million USDT, the top stablecoin, from the crypto exchange HTX and deposited it into Binance.

In February, Sun publicly revealed that his HTX account held 28,613 Bitcoin (BTC) worth approximately $1.62 billion at the time. HTX is the rebranded name of Huobi, a Seychelles-based trading giant, for which Sun claims to be an advisor. However, it is unclear if Sun has an actual ownership stake in HTX, although he has reportedly used a significant portion of his fortune to support the exchange.

Sun’s decision to disclose his BTC holdings was in response to critics who accused him of not being an active user of HTX. As always, it is important for investors to conduct their own research and due diligence before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Transfers and trades carry inherent risks, and any losses incurred are the investor’s responsibility. The Daily Hodl does not provide investment advice or act as an investment advisor.