After 8 years of inactivity, an Ethereum ICO participant, who had received over 61,000 ETH in 2015, woke up and transferred the ETH to Kraken.
Amidst Bitcoin’s struggle to maintain $30,000, Ethereum is striving to defend the $1,900 level. Before the FED interest rate decision on July 26, the cryptocurrency market remained relatively flat, but during this period, a whale executed an ETH transaction.
Lookonchain, a popular cryptocurrency platform, reported that an Ethereum ICO participant purchased over 61,000 ETH in 2015 and remained inactive for 8 years. Surprisingly, the whale woke up and transferred 61,216 ETH to a wallet associated with the crypto exchange Kraken.
After 8 years of dormancy, an Ethereum ICO participant transferred 61,216 ETH (equivalent to $116 million) to a wallet owned by the cryptocurrency exchange Kraken just 2 hours ago.
An Ethereum ICO participant woke up after 8 years of dormancy and deposited all 61,216 $ETH($116M) to #Kraken 2 hrs ago.
He received 61,216 $ETH($116M currently) at Ethereum Genesis, the ETH ICO price is ~$0.31.https://t.co/HLSXvqyBDb pic.twitter.com/YWVlIcxN99
— Lookonchain (@lookonchain) July 19, 2023
Today, the value of the transferred Ethereum is approximately $116 million; however, the whale originally purchased the ETH at the ICO price of $0.31.
Experts analyzing the whale’s Ethereum transfer from the ICO noted that such significant movements by early investors are usually uncommon and could indicate intentions to sell or diversify their portfolio.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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