Ancient ETH Wallet Awakens After 8 Years, Moving Millions in Ethereum
U.Today
Published Oct 24, 2023 04:00AM ET
Ancient ETH Wallet Awakens After 8 Years, Moving Millions in Ethereum
U.Today - blockchain sleuth, which traces down large transfers of digital currencies, has spotted a pre-mine ETH wallet awakened after years of dormancy. This address contains a large stash of — 2,000 coins. At the present exchange rate, they are worth $3,198,920.
h2 Pre-mine ETH whale transfers its funds/h2 The wallet awakened after 8.2 years, per Whale Alert's tweet, which means it stopped being used roughly in 2015 — the time when the Ethereum initial coin offering was in full swing.Another source on the X app, @lookonchain "Smart Money" tracker, has added details about this awakened ETH wallet, stating that it moved all of its 2,000 ETH to four different blockchain addresses.
The X post also says that this whale obtained this much ETH at Ethereum Genesis. Back then, 2,000 ETH was worth $620.
h2 Ethereum price action/h2 This week, the second largest cryptocurrency, Ethereum, showed a significant rise of 4.71% between Oct. 19 and 20 as it managed to rise from $1,547 to the $1,620 price mark. A slight drop in the price that followed that took ETH 1.46% down.Prior to that, at the start of the week, Ethereum sharply declined by 3.96% along with Bitcoin after the news about the SEC regulator approving BlackRock (NYSE:BLK)'s Bitcoin ETF filing proved to be fake.
At the time of this writing, ETH is changing .
In the meantime, large-tier whales who hold at least 1 million ETH to a total of 32.3% of the whole circulating supply — this has happened for the first time since 2016. Earlier this week, transfers carrying more than $1 million worth of Ethereum were spotted by the on-chain data company Santiment.
This article was originally published on U.Today
Get The News You Want
Written By: U.Today
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.