An original Ethereum investor has suddenly moved millions of dollars of ETH after remaining inactive for years, according to blockchain tracking firm Lookonchain.
Lookonchain notes that the whale participated in Ethereum’s 2014 initial coin offering (ICO) when they received 2,000 ETH, currently worth about $6.7 million.
According to the firm, the whale just moved more than half of their dormant ETH holdings, 1,111 ETH worth $3.7 million, to a new wallet. The transaction occurred nine years after the Ethereum network project launched on July 30, 2015.
Ethereum is trading for $3,319 at time of writing, up slightly in the last 24 hours. It’s not clear why the individual moved the ETH into the new wallet. The ETH ICO price was $0.31, meaning the whale paid about $344 for the 1,111 ETH at the time, a more than 1,000,000% return on the initial investment.
Lookonchain also notes that crypto whales are suddenly accumulating massive amounts of Bitcoin (BTC) from Binance, the world’s top crypto exchange by trading volume, and major crypto exchange Bitfinex.
“Whales are accumulating BTC [July 30th]!
Whale ’12QVsf’ withdrew 4,500 BTC ($302 million) from Binance in the last 22 hours!
Three wallets (possibly belonging to the same whale) withdrew 1,400 BTC ($94 million) from Bitfinex [July 30th] and they also withdrew 2,510 BTC ($163 million) from Bitfinex on June 20th.
Address: 12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo
3BTSgrNF7MhZEqCWYYK8mSp9YMTz1ZkgRX
3ADUencNf9zzxMvz7QmJtgU5EsBXg1ScEZ
3PBRjqe3mdACy2vBzn6o7M1SgWWrh1H7Gr.”
Bitcoin is trading for $66,143 at time of writing, down 2.5% in the last 24 hours.
Generated Image: Midjourney