Dormant Whale Moves Over $116 mn Of Ethereum
An Ethereum wallet address that had been dormant for eight years just transferred its entire cache of 61,216 ETH, worth $116 million at spot rates on July 19, to an address on Kraken, a crypto exchange.
Initially worth around $20 million during the pre-mine phase, ETH prices have since skyrocketed, increasing the total stash by 8X to around $116 million over the years.
Etherscan data confirmed a pre-mined 61,216 ETH transaction to a Kraken wallet address. Surprisingly, the transfer of $116 million in ETH resulted in a $1.5 transaction charge.
In April, at least four affluent investors, dubbed “whales,” made huge transfers of Bitcoin from their personal wallets to exchanges or other wallets.
Whales typically hold large amounts of tokens, which can have a huge impact on a token’s price and overall perception whenever it is moved.
(With inputs from Shikha Singh)
You need to login in order to Like
