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Ethereum

Ancient Ethereum Whale From 2014 Wakes Up, Transferring 145,000 ETH

August 15, 2022 - Around 2 mins mins to read
The last active Ethereum address in 2014 has finally woken up.
Ancient Ethereum Whale From 2014 Wakes Up, Transferring 145,000 ETH

An Ethereum wallet that has been dormant since the ICO suddenly wakes up and transfers many tokens to an unknown list of wallets. The entire amount is divided into 5,000 ETH for each wallet.

The whale’s initial source of ETH was due to participation in the Ethereum Genesis ICO in 2014 when the fund offered 1 ETH for $0.31. Whales sold a portion of ETH obtained on the Bitfinex exchange on July 31, 2019, for $219 per coin. The total value of the deal is about $1 million.

As of today, the remaining 145,000 ETH could easily be sold for around $250 million, considering the potential drop that such a large deal would cause if sold via a market order.

But at the same time, it is less likely that the whale will sell its holdings since the nature of the transaction does not appear to be all on the exchange. The most likely scenario is that investors will stake Ethereum 2.0 to receive passive income.

Ancient Ethereum Whale From 2014 Wakes Up, Transferring 145,000 ETH

Considering the slight correction on Ethereum, some crypto community members suggest that this whale will sell part of his assets when ETH trades around $2,000 and buy it back cheaper when Ether drops below $1,000.

Luckily for crypto investors, the $200 million selling pressure wasn’t enough to crash the Ethereum market completely, as the largest centralized exchanges and OTC desks would fill the selling demand without did not cause significant fluctuations.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

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Harold

CoinCu News

crypto

ETH

The Merge

Whale

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Ethereum

Ancient Ethereum Whale From 2014 Wakes Up, Transferring 145,000 ETH

The last active Ethereum address in 2014 has finally woken up.
Ancient Ethereum Whale From 2014 Wakes Up, Transferring 145,000 ETH

An Ethereum wallet that has been dormant since the ICO suddenly wakes up and transfers many tokens to an unknown list of wallets. The entire amount is divided into 5,000 ETH for each wallet.

The whale’s initial source of ETH was due to participation in the Ethereum Genesis ICO in 2014 when the fund offered 1 ETH for $0.31. Whales sold a portion of ETH obtained on the Bitfinex exchange on July 31, 2019, for $219 per coin. The total value of the deal is about $1 million.

As of today, the remaining 145,000 ETH could easily be sold for around $250 million, considering the potential drop that such a large deal would cause if sold via a market order.

But at the same time, it is less likely that the whale will sell its holdings since the nature of the transaction does not appear to be all on the exchange. The most likely scenario is that investors will stake Ethereum 2.0 to receive passive income.

Ancient Ethereum Whale From 2014 Wakes Up, Transferring 145,000 ETH

Considering the slight correction on Ethereum, some crypto community members suggest that this whale will sell part of his assets when ETH trades around $2,000 and buy it back cheaper when Ether drops below $1,000.

Luckily for crypto investors, the $200 million selling pressure wasn’t enough to crash the Ethereum market completely, as the largest centralized exchanges and OTC desks would fill the selling demand without did not cause significant fluctuations.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News