A crypto whale that participated in the initial coin offering (ICO) of Ethereum has reportedly been spotted sending nine figures worth of ETH to the crypto exchange Kraken this year.
Citing data from on-chain analyst Ember, Wu Blockchain reports that after another transfer of 3,370 ETH to Kraken over the weekend, a whale connected to Ethereum’s genesis block has sent a total of 48,687 ETH worth $171.78 million to the exchange in 2024 with an average transfer price of $3,528.
Meanwhile, Ember says that the deep-pocketed investor collected 200,000 ETH from the genesis block in 2015. Ember also thinks that the Ethereum whale will soon run out of ETH to unload.
“However, after eight years of continuous sales, his ETH has been almost sold out. Currently, there are only 7,594 ETH ($25.72 million) left, and it will be cleared in one-two more sales.”
Blockchain tracking firm Lookonchain also recently spotted an Ethereum genesis wallet waking up after almost a decade of inactivity to transfer a small amount of ETH to a new address.
“An Ethereum ICO participant woke up after 9.4 years of dormancy and transferred 0.01 ETH to a new wallet.
The participant received 1,940 ETH (ICO cost was $601, now worth $6.56 million) at [Ethereum’s genesis].”
At time of writing, Ethereum is trading at $3,356, up about 1,082,480% from its ICO price of $0.31.
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