Ethereum
Ethereum ICO Wallet Transfers Millions of ETH as Ethereum Turns 9
Youri Molchan
A former Ethereum whale emerged today with millions of US dollars worth of ETH
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Several data sources have identified dormancy Ethereum Whalewhich is coming back to life for the first time since the ICO in 2015.
The wallet transferred half of the millions of ETH it contained.
Ethereum Premine Wallet Fills Up With Funds
Blockchain specialist Whale Alert revealed that recently, a wallet belonging to an Ethereum ICO participant was reactivated after nine years of inactivity. The wallet contained 2,000 ETH, which he had received during Ethereum’s genesis. ETH was then sold at around $0.31.
At the current exchange rate, those 2,000 ETH are valued at $6,681,471. The difference between the $620 the whale paid for the ETH back then and its current value is a staggering 1,077,560%.
According to Smart Whale tracker on X @lookonchain, this pre-mined whale has already transferred about half of its ETH holdings – 1,111 ETH worth $3.7 million – in an unknown direction. The crypto was transferred in four transactions, carrying 1,000, 100, 10, and 1 ETH.
Ethereum Celebrates Its 9th Birthday, Vitalik Buterin Reacts
Co-founder and leader of Ethereum Vitalik Buterin has taken his account on social network X to remind the ETH community that exactly nine years ago, in 2015, the Ethereum network was officially launched.
Vitalik wished its creator a “happy birthday” and added that he looks forward to what the next decade will bring for Ethereum.
Currently, Ethereum is the second largest cryptocurrency in terms of market capitalization. This key metric for Ethereum constitutes $401,446,569,226. At the time of writing, ETH is trading at $3,340.
Recently, the U.S. Securities and Exchange Commission (SEC) approved the launch of Ethereum spot exchange-traded funds (ETFs). They were launched by the same companies that, in January of this year, received SEC approval to begin trading Bitcoin spot ETFs.
This notable event, however, did not have a significant impact on the asset’s price. Over the past few days, Ethereum has surged by just over 9%, from $3,115 to $4,000. However, ETH was then pushed from there to the price zone where it is currently changing hands. Many Bitcoin maximalists do not believe that Ethereum ETFs will be as successful as Bitcoin ETFs.
About the Author
Youri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in many areas in the future. He has written for many crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.