Have you ever wondered what happens when a dormant ICO Ethereum Wallet springs back to life after years of inactivity? Well, here’s an intriguing case study. An ICO Ethereum Wallet, inactive for two years, recently woke up and started to actively trade its ETH holdings. Simultaneously, another large-scale holder, who accumulated nearly 300,000 ETH during Ethereum’s Initial Coin Offering (ICO), also resurfaced and began transferring their ETH to Kraken, selling a portion of these coins.
The Awakening of the Sleeping Giant
According to data shared by the “Smart Money” tracking bot @lookonchain, the previously dormant wallet reactivated four days ago. Immediately upon its revival, the whale, as these large-scale holders are often referred to, moved 10,000 ETH, valued at $16.5 million, out of his wallet. The subsequent actions involved the same amount of Ethereum being transferred to three exchanges — Binance, OKX, and KuCoin — via three separate wallets over the following four days.
Another Whale Begins to Sell
As per the same source, another massive Ethereum whale, who participated in the initial ETH token offering (ICO) in 2014, began to liquidate his ETH holdings. This whale received a total of 254,908 ETH in the ICO — a stash of crypto now worth approximately $422.6 million. From this collection, he deposited 6,000 ETH, roughly equivalent to $10 million, into the Kraken exchange.
Ethereum’s Market Performance
At the time of writing, Ethereum, the second-largest cryptocurrency, is trading at $1,643, as per data provided by CoinMarketCap. Over the past 24 hours, the ETH price has surged by 2.52%.
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