A dormant Ethereum whale returns after six years and moved a staggering 7,998 ETH tokens. In a recent development, reports show that an Ethereum whale which has been silent since 2017 comes back, transferring ETH worth about $15.06 million.
EmberCN, a blockchain data-sharing platform revealed this earlier today in a Twitter post. According to the report, the address has been inactive for 6 years and had initially received 50,000 ETH from an Ethereum ICO participating address back in 2017.
一个在 2017 年从以太坊 ICO 参与地址接收了 5 万 ETH、已休眠 6 年的地址，在 6 小时前移动了 7998 $ETH($15.18M)。
这个地址在 2017/3/10 接收到 5 万 ETH，然后在2017/5/30-6/14 期间将 3.6 万 ETH 转入 #Kraken，可能的出售均价为 $255。
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推文由 @LionDEX_CN 赞助 pic.twitter.com/1k4hasjiWw
— 余烬 (@EmberCN) June 26, 2023
Furthermore, EmberCN revealed that this is not the first time the address has been linked to a huge transaction. Back in March 2017, 50,000 ETH was sent to the address. Subsequently, 36,000 ETTH was transferred from the address to the Kraken crypto exchange from May 30 to June 14.
Related Reading: See How This Ethereum (ETH) Investor Made $688K Profit in 2 Days
At the time, the possible selling price of the token was $255. These activities show that the address has been involved in strategic transactions before now. During an initial coin offering in July 2015, the whale associated with this address acquired a large amount of ETH tokens amounting to 192,026.
The coins were bought at the price of $0.311 per token. Subsequently, a large amount of the purchased token, exactly 177,403 ETH was transferred to a centralized exchange (CEX) within the period of two years. At the time, the possible average selling price was $70.
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The activity of the whale has raised concerns among the crypto community about the potential effect on the price of Ethereum and the current ETH price rally. This would not be the first time that a significant transfer has triggered market volatility. There have been similar cases in the past where huge transfers by whales have affected the crypto price in the market.
Since the previous time these whales were awakened at the end of May, the price of Ethereum originally fell by 14%, but it was able to regain its worth. If additional whales surface, it could be a good idea to learn from the past and take precautions, not overestimate the risks.
Ethereum (ETH) price today
Live data from CoinMarketCap shows that the price of ETH today is $1,886. The price is down 1.23% in the last 24 hours. What’s more, Ethereum is ranked #2 in the crypto market with a live market cap of $226,471,834,088. Finally, ETH had a 24-hour trading volume of $6,732,804,362 USD.
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Victor Swaezy
Victor Nnamdi Igbor "Swaezy" is a crypto enthusiast and writer with over 8 experience in blogging. He is an easy person and when not working, loves to have a good time.