Ether Moves from ICO Wallet to Kraken Exchange
Ether, the cryptocurrency, has seen minor gains in the past 24 hours, mirroring the broader market. However, one notable movement in the crypto world is the transfer of over 61,000 ether (ETH) from an initial coin offering (ICO) wallet to a wallet belonging to crypto exchange Kraken. Here are the key points:
– The wallet in question received the ether during an ICO eight years ago when the tokens were valued at 31 cents each.
– The total value of the transferred ether is currently over $116 million.
– The tokens were first moved to another wallet and then transferred to the Kraken-tagged wallet.
– The owner of the wallet remains anonymous as of now, with the only previous activity being the receipt of ether from the genesis contract after Ethereum’s launch.
– Large movements from early participants like this are uncommon and can indicate various intentions, such as selling tokens, staking on an exchange, or diversifying holdings.
This transfer is part of a trend seen this year, with old wallets moving significant amounts of bitcoin or ether to exchanges. These investors, known as “whales,” can have a significant impact on token prices and market sentiment due to the size of their holdings.
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