ICO Era Ethereum Whale Moves 145,000 ETH

An Ethereum whale that participated in the Genesis Initial Coin Offering (ICO) has now moved approximately 145,000 ETH just before the merge.

ETH moved in multiple batches

In batches of 5,000 Ethereum and some batches of 10,000 Ethereum, a total of 145,000 worth of ETH was moved. The total value of the moved ETH is over $280 million. The wallet where everything came from now holds 0.107 ETH.

The address has only moved ETH once over time, when 5,000 ETH was sent from the wallet to crypto exchange Bitfinex. This was in 2019.

Because so much ETH has moved in one go, it has caught the attention of the community, which has turned to speculation. For example, it was claimed that it could be dumped before the upcoming merge. However, it is important to note here that most transactions have gone to unknown wallets and not to a crypto exchange.

It is also expected that even if all 145,000 tokens were put on the market at once, it would not be significant enough to start a market dump. Some other members of the community believed that the whale may be trying to use their ETH to become a validator on the PoS network and generate passive income.

The transition from Ethereum to a Proof-of-Stake network is scheduled for September 15, after the successful merge of the Goerli testnet with the Beacon Chain (the PoS chain activated in 2020), the final rehearsal before the official transition.

Read Also:  Automating Reporting And Analytics Processes

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here