Cryptonews - A wallet that scooped up Ethereum (ETH) on July 30, 2015, went dormant for a whole decade and recently transferred $23 million worth of Ethereum. This move turned a $3,100 investment from the initial coin offering (ICO) into one of the most talked-about events on the blockchain this week.
The address originally snagged 10,000 Ethereum during the Ethereum ICO at a price of $0.311 per token, representing a nearly zero cost basis, which has now skyrocketed into an exceptional yield.
When a wallet of this magnitude awakens after ten years of silence, traders keep a close eye on the destination of the funds.
Data on the blockchain, tracked via Arkham Intelligence, shows that the whale sold 10,000 Ethereum at an average price of around $2,027, completing the trade in just one hour.
This move caused the ETH price to dip by 1.5% during the same timeframe, with the transfer flagged by monitoring platforms as a potential sell signal heading to exchanges.
$ETH
The address originally snagged 10,000 Ethereum during the Ethereum ICO at a price of $0.311 per token, representing a nearly zero cost basis, which has now skyrocketed into an exceptional yield.
When a wallet of this magnitude awakens after ten years of silence, traders keep a close eye on the destination of the funds.
Data on the blockchain, tracked via Arkham Intelligence, shows that the whale sold 10,000 Ethereum at an average price of around $2,027, completing the trade in just one hour.
This move caused the ETH price to dip by 1.5% during the same timeframe, with the transfer flagged by monitoring platforms as a potential sell signal heading to exchanges.
$ETH