A notable crypto whale, who was involved in the initial coin offering (ICO) of Ethereum, has been identified transferring a substantial amount of ETH to the crypto exchange Kraken this year. According to data from on-chain analyst Ember and a report by Wu Blockchain, the whale has sent a total of 48,687 ETH, valued at $171.78 million, to Kraken in 2024. The average transfer price for these transactions has been $3,528.
Ember also revealed that this investor received 200,000 ETH from Ethereum’s genesis block back in 2015. However, after years of continuous selling, the whale is close to exhausting their ETH holdings. Currently, only 7,594 ETH, worth $25.72 million, remain, and Ember predicts that these will be cleared out in one or two more sales.
In a surprising turn of events, Lookonchain recently observed an Ethereum genesis wallet, dormant for nearly a decade, awakening to transfer a small amount of ETH to a new address. This wallet received 1,940 ETH during the ICO period, valued at $601 back then but now worth $6.56 million.
As of the latest update, Ethereum is trading at $3,356, marking an impressive growth of approximately 1,082,480% from its ICO price of $0.31.
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