Ethereum ICO Participant Moves $116 Million Worth of ETH to Kraken
A participant in Ethereum’s initial coin offering (ICO) has resurfaced after more than eight years of inactivity. They have transferred 61,216 ETH, valued at over $116 million, to the crypto exchange Kraken. This participant had originally received the ETH for only 31 cents a coin during Ethereum’s Genesis, which was worth around $18,980 at that time. Now, one ETH is trading at over $1,900.
Key Points:
– The Ethereum ICO participant remained inactive for over 2900 days.
– The reason behind the participant’s transfer to Kraken is unclear, but it could indicate an intention to sell, stake, or acquire other assets.
– This movement of funds to crypto exchanges has become more common among dormant crypto holders.
– The ETH price has not been affected by the transfer and continues to rise.
– Other dormant crypto holders, including a bitcoin whale, have also recently moved funds after years of inactivity.
Hot Take:
The resurfacing of dormant crypto holders and their movement of significant funds has become a notable trend in the crypto world. These participants, who had been inactive for years, are now taking action and potentially reshaping the market. It raises questions about their intentions and the impact of their actions on the overall crypto landscape. As more dormant holders make moves, it will be interesting to see how this trend unfolds and whether it will have any lasting effects on the market.
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