A crypto whale has reportedly been spotted participating in Ethereum’s Initial Coin Offering (ICO) and sending nine digits worth of ETH to the crypto exchange Kraken this year.
Citing data from on-chain analyst Ember, Wu Blockchain reports that after another transfer of 3,370 ETH to Kraken over the weekend, a whale connected to Ethereum’s genesis block sent a total of 48,687 ETH worth $171.78 million to the exchange in 2024 with an average transfer price of $3,528.
Meanwhile, Ember says the investor has deep pockets collected 200,000 ETH from the genesis block in 2015. Ember also thinks that the Ethereum whale will soon run out of ETH to unload.
“However, after eight years of continuous selling, his ETH is almost sold out. Currently, there are only 7,594 ETH ($25.72 million) left, and these will be settled in one or two additional sales.”
Blockchain tracking company Lookonchain also recently spotted an Ethereum genesis wallet that wakes up after almost a decade of inactivity to transfer a small amount of ETH to a new address.
“An Ethereum ICO participant woke up after 9.4 years of dormancy and transferred 0.01 ETH to a new wallet.
The participant received 1,940 ETH (ICO fee was $601, now worth $6.56 million) at [Ethereum’s genesis].”
At the time of writing, Ethereum is trading at $3,356, up approximately 1,082,480% from its ICO price of $0.31.
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