An Ethereum whale awakens from an eight-year slumber! This early ICO participant just moved 61,216 $ETH (about $116 million) to Kraken
Sudden movement from long-dormant accounts may be driven by several factors. These may include a desire to cash in on significant price increases, a need for liquidity or a shift in investment strategy.
These whale movements can often impact the market, causing price volatility due to the sheer size of the transactions.participant's activity comes at a time when Ethereum's market cap stands at $229 billion with a 24-hour trading volume of $9.8 billion. The flagship altcoin is sitting at $1,911 on major spot exchanges after a modest 0.4% price increase.
As we have seen in the past, the actions of such dormant account holders can have a considerable impact on market dynamics and investor sentiment, and it will be interesting to observe any potential ripple effects from this recent transaction.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum ICO Participant Transfers $116M ETH After 8 Years of DormancyA wallet that received over 61,000 $ETH after the initial coin offering (ICO) in 2015 transferred the entire amount to a wallet linked to crypto exchange Kraken, blockchain data shows. By shauryamalwa.
Read more »
Unstoppable Domains adds .eth domains through Ethereum Name ServiceUnstoppable Domains now offers .eth decentralized domains through an integration with the Ethereum Name Service.
Read more »
Ethereum Layer 2 Mantle Network unveils mainnet alpha at EthCCMantle Network launched its mainnet alpha at EthCC, alongside a $200 million ecosystem fund, following six months of testnet development.
Read more »
Ethereum L2 zkSync Unveils Next Mega Upgrade: DetailsEthereum L2 zkSync is in final stages of its major upgrade: Boojum
Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Continue to Consolidate, Following Recent Gains – Market Updates Bitcoin NewsBitcoin started the week trading around the $30,000 mark, as the cryptocurrency market continued to consolidate following last week's gains.
Read more »
Dragonfly Capital leads $6 million seed funding round for Ethereum stablecoin developer Ethena: AxiosThe firm created its ethereum-backed stablecoin USDe after the prominent Terra ecosystem collapse of 2022.
Read more »