Several data sources have spotted a dormant Ethereum whale, which has come back to life for the first time since the ICO in 2015.
The wallet has transferred half of the millions in ETH that it contained.
Premine Ethereum wallet shovels funds
Blockchain sleuth Whale Alert shared that, a short while ago, a wallet that belongs to a participant of the Ethereum ICO was reactivated after nine years of dormancy. The wallet held 2,000 ETH, which it received at Ethereum’s genesis. ETH was sold at approximately $0.31 back then.
With the current exchange rate, these 2,000 ETH are valued at $6,681,471. The difference between the $620, which the whale paid for the ETH then, and its current evaluation comprises a jaw-dropping 1,077,560%.
An #Ethereum ICO participant woke up after 9 years of dormancy and transferred 1,111 $ETH($3.7M) to a new wallet.
He received 2,000 $ETH($6.67M) at #Ethereum Genesis, the $ETH ICO price is ~$0.31.https://t.co/5RySljuw7R pic.twitter.com/fMoaDcmFfB
— Lookonchain (@lookonchain) July 30, 2024
According to the Smart Whale tracker on X @lookonchain, this premine whale has already shoveled approximately half of their 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 turns 9 years old, Vitalik Buterin reacts
Ethereum cofounder and frontman Vitalik Buterin has taken to his account on the X social media network to remind the ETH community that exactly nine years ago in 2015, the Ethereum network was officially launched.
Vitalik wished his brainchild a “happy birthday” and added that he is looking 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. As of this writing, ETH is trading at $3,340.
Recently, the U.S. Securities and Exchange Commission (SEC) approved the launch of spot Ethereum exchange-traded funds (ETFs). They were released by the same companies that, in January this year, received approval from the SEC to start trading spot Bitcoin ETFs.
This notable event, however, has not had any significant impact on the asset’s price. Over the past few days, Ethereum has surged by slightly more than 9%, rising from $3,115 to the $4,000 level. However, ETH was then pushed from there down to the price zone where it is changing hands at the moment. Many Bitcoin maximalists do not believe that Ethereum ETFs will be as successful as Bitcoin ETFs.
