A prominent crypto whale that took part in Ethereum’s initial coin offering (ICO) has made headlines after transferring a significant amount of ETH to the cryptocurrency exchange Kraken. According to data from on-chain analyst Ember, the whale has sent a total of 48,687 ETH, valued at $171.78 million, to Kraken in 2024. This transfer included 3,370 ETH sent over the weekend at an average price of $3,528 per ETH.
Ember also revealed that the investor received 200,000 ETH from Ethereum’s genesis block back in 2015. However, after years of continuous sales, the whale is running out of ETH to sell. Currently, only 7,594 ETH, worth $25.72 million, remains in their possession and is expected to be depleted in one or two more sales.
In a surprising turn of events, another Ethereum ICO participant who had been dormant for almost a decade recently woke up and transferred 0.01 ETH to a new wallet. This participant had received 1,940 ETH during Ethereum’s genesis, which was initially valued at $601 but is now worth $6.56 million.
The resurgence of activity from these early Ethereum investors comes at a time when the cryptocurrency is trading at $3,356, representing a substantial increase of 1,082,480% from its ICO price of $0.31.
As the crypto market continues to evolve, it will be interesting to see how these early investors navigate their holdings and potential future transactions. Stay tuned for more updates on the latest developments in the crypto space.
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