In the world of cryptocurrencies, Ethereum made waves when an unexpectedly sleeping whale woke up and now has a significant cache of 12,566 ETH.
A site that keeps track of significant Ethereum transactions reported an interesting event, a major ETH holder made an incredible transaction after a break of 1.12 years.
The whale took part in Ethereum’s 2014 Initial Coin Offering (ICO), which was of great significance. ETH worth 1,069 was just put on the Kraken market. That’s $3.56 million. People who trade are often interested in these deals because they happen at times that make it look like someone wants to sell.
Ethereum’s ICO Changed Cryptocurrency History Forever
The initial coin offering (ICO) for ETH was a turning point in the history of the cryptocurrency. It gave buyers the chance to buy ETH tokens for a small portion of their current value. This whale bought 12,566 ETH in July 2015, during Ethereum’s Genesis phase, when each token was worth only $0.31.
For many years, the whale has been selling and giving away parts of their ETH assets. They split 12,566 ETH among 12 wallets in 2017 and then deposited the funds into markets like Kraken and Gemini. At the moment, the whale has a mind-boggling $25.7 million worth of ETH spread out across eight wallets.
People who use ETH are going through major shifts right now, which is when this “whale” comes back. Ethereum’s main promising rollups have become much busier since the much-anticipated Dencun upgrade on March 13. The week’s high of 32 million transactions was reached.
IntoTheBlock data that is saved on the blockchain also shows that ETH is being kept. In fact, in the last three months alone, $4 billion worth of ETH has been taken by thieves. This means that people who own ETH are feeling more sure of themselves and want to spend for the long term.
