Ethereum Whale  Moves 145k ETH after 3 Years Dormancy

– A dormant Ethereum whale address has been reactivated after three years of inactivity. – About 145,000 ETH was moved from the address to new wallets. – The transactions were worth over $285 million at the current Ether price.

A whale address that participated in Ethereum’s Genesis ICO (Initial Coin Offering) has been awakened again after a dormancy period of three years.

Over the past day, about 145,000 ETH was transferred off the address, just after the cryptocurrency's price reclaimed the $2,000 mark.

The whale address reportedly obtained up to 150,000 ETH during the Ethereum Genesis offering in 2014.

Five years after the ICO, about 5,000 ETH was transferred from the address to the Bitfinex3 exchange, precisely on July 31, 2019. The transaction was worth $1.095 million, with ETH trading at $219 at the time.

On August 14th, the address was spotted moving the old coins again to multiple addresses. As seen on Etherscan, the remaining 145,000 ETH were moved out of the address in a series of transactions, leaving a balance of 0.‍107 ETH. At today’s ETH price, the coins moved are worth over $285 million.

The transfers may not entail an impeding dump, given that all the coins were transferred to new addresses and not exchange wallets. According to the blockchain explorer, the whale moved all the coins to about nine new ETH addresses, each holding at least 10,000 ETH.

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By Cali Crystal             May 19, 2020