Ethereum Wallet Address with $116 Million Worth of ETH Moved After 8 Years
An Ethereum wallet address that has been dormant for eight years recently moved its entire stash of 61,216 ETH, valued at $116 million, to an address on Kraken, a crypto exchange.
Key Points:
– The dormant address contained 61,216 ETH, initially worth $20 million, which has now grown to $116 million.
– The movement of ETH to the Kraken wallet address incurred $1.5 in transaction fees.
– ETH prices are currently at $1,900.71, down 0.19% in the last day.
– “Whales,” or wealthy investors, have made significant transfers of Bitcoin in the past, impacting token prices.
– Vitalik Buterin, co-founder of Ethereum, praised modern account abstraction as a solution for simplifying crypto wallet management.
In conclusion, the movement of a large amount of ETH from a dormant wallet to an exchange indicates potential activity in the crypto market. The involvement of “whales” and the praise for account abstraction by Vitalik Buterin suggest ongoing developments and advancements in the crypto space. However, the fluctuation in ETH prices highlights the volatility of the market.
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