HomeNewsSilent Ethereum Whale Moves $116M After an Eight-Year Pause

Silent Ethereum Whale Moves $116M After an Eight-Year Pause

- Advertisement -
  • An anonymous Ethereum investor has moved tokens valued at $116 million to the cryptocurrency exchange Kraken, after an eight-year period of inactivity.
  • The assets, approximating 60,000 Ether, were acquired during the ‘Pre-Mine’ phase, when an Ether was priced between $300 and $400, making this transfer noteworthy given the current price of $1,900 per Ether.

Ethereum Whale’s Eight-Year Slumber Ends

In a noteworthy development in the Ethereum network, a dormant Ether investor, often referred to as a “whale” in the crypto parlance, has sprung into action after eight long years. This investor transferred Ether worth $116 million to Kraken, a popular cryptocurrency exchange. This sizeable movement of assets marks a sudden end to the long-standing inactivity of this Ethereum wallet.

The Ether tokens in question are from the Ethereum’s ‘Pre-Mine’ phase, a period in the lifecycle of a cryptocurrency before it is made available to the public. During this phase, investors can acquire tokens at a substantially lower price. It is estimated that the investor acquired these Ether tokens when they were valued between $300 and $400 apiece.

- Advertisement -

Today, with the Ethereum price standing at $1,900 per Ether, the value of these tokens has increased exponentially, enhancing the significance of this massive transfer. The transferred amount is estimated to be around 60,000 Ether, signifying the scale of this investor’s foresight and patience.

Whale Moves in Cryptocurrency – A Common Occurrence

While this sudden move after a long period of inactivity is undoubtedly significant, it is important to clarify that transactions of this magnitude are not uncommon in the cryptocurrency world. Whale movements often involve shifting coins for enhanced security, among other reasons. This particular transfer aligns with a similar pattern observed a few months ago, when eight-year-old Ether holdings were moved, underlining the continuous dynamism of the Ethereum network.

Understanding the reasons behind such substantial movements can be challenging, especially given the anonymous nature of the blockchain world. However, as observed in this Ethereum whale’s move, these transactions often reveal fascinating insights into the strategies and patience of large-scale investors in the burgeoning world of cryptocurrencies.

- Advertisement -

Best Crypto Exchange for Everyone:

  • Invest in Ethereum (ETH) and 70+ cryptocurrencies and 3,000+ other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started


- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
- Advertisment -spot_img