After three years of dormancy, a large number of Ethereum Whale who participated in the first token sale of the project, also known as Genesis’ Initial Coin Offering (ICO), today spent 145,000 Ether, worth just over $276 million using the Ethereum exchange rate.
Mega Ethereum Whale, 145,000 Ether distributed to 9 different addresses
On August 14, 2022,on-chain datashows that whales participating in the Ethereum Genesis ICO moved 145,000 ETHto various addresses. The funds were worth $276 million using the currentexchange rate of ETH; Genesis ICO participants have not spent the coins since 2019, when 5,000 ETHwas transferred from the whale’s ejected from the wallet. At the time of writing, the address currently holds 0.1177 ; after emptying 145,000 ether, it holds $22,4 worth of ETH
Sunday’s transfer was sent in multiple batches of 5,000, ETH, 10,000 ETHand in increments of 20,000 ETH. Whale ended the transfer with a final 10,000After sending the last 10,000 ether from the wallet, it sent ETHCanto Utility Token (CANTO). Statistics show that this address also now has $26,770 worth of ERC20 tokens in its wallet; the majority of the ERC20 token value ($26,439) is held in omisego (OMG).
Also at this address iscreated by Enjin. Protocol of Quick Response” Non-Fusible Token (NFT) worth 0.02 before sending 145,000 ETHor $38. Before sending ETHWhale also sent 5,000ETHon July 31 sent ETHon July 31, 2019, when ether was trading at $220 per coin; that transaction in July 2019 had a USD value of about $1.1 million. The 145,000 ether sent on Sunday went to nineseparate blockchain addresses.
None of the nine addresses tied to the 145,000 ethereum used a stash of coins, and several retained the CANTO tokens sent from the original address. It is worth noting that the term “exhausted” in this article simply refers to the transfer ofETH; ETHfrom one address to another; and ETH
from one address to another. There is no real way to know if the coin has been “sold” or “will be sold” on the open market.
So-called “sleeping cryptocurrencies” are always waking up, and even if they remain idle for three years, that’s not very long in the grand scheme of things. For example, on August 10, 2022, blockchain parser btcparser.comcaught41.55 caught BTCoriginating 11 years ago, i.e., on June 19, 2011. Bitcoin officially “woke up” atwith a BTCblock height of 748,851 when they were spent. Blockchain parsers always catch “sleeping cryptocurrencies” waking up. But the aformentioned ETHwhale is much more massive in size compared to theold bitcoinerwho transferred 41 BTCsince 2011.
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