Ethereum Celebrates 9th Anniversary with Multi-Million ETH Transfers from ICO Wallet
A previously dormant Ethereum whale has resurfaced, making its first move since the 2015 ICO. The wallet, which had been inactive for nine years, recently transferred half of its ETH holdings.
The blockchain tracker Whale Alert reported the reactivation of a wallet linked to an Ethereum ICO participant. This wallet, which received 2,000 ETH during Ethereum’s inception, sold the ETH at around $0.31 per coin.
The current value of these 2,000 ETH stands at $6,681,471, marking a staggering increase from the initial $620 investment, representing a growth of 1,077,560%.
According to the Smart Whale tracker on Lookonchain, the whale has already shifted half of its ETH holdings, totaling 1,111 ETH worth $3.7 million, in four transactions of varying amounts.
Meanwhile, Ethereum celebrated its ninth anniversary, with co-founder Vitalik Buterin acknowledging the milestone on social media. Buterin expressed excitement about Ethereum’s future prospects as it enters its second decade.
As the second-largest cryptocurrency by market capitalization, Ethereum currently holds a market cap of $401,446,569,226, with ETH trading at $3,340 at the time of writing.
Recently, the U.S. Securities and Exchange Commission (SEC) approved the launch of spot Ethereum exchange-traded funds (ETFs). Despite this development, Ethereum’s price has seen fluctuations, with a modest 9% increase followed by a decline from $4,000 to its current trading range.
Bitcoin proponents remain skeptical about the success of Ethereum ETFs compared to Bitcoin ETFs, as Ethereum continues to navigate market dynamics and regulatory developments.
