A crypto whale participating in Ethereum’s initial coin offering (ICO) was reportedly seen sending nine figures of ETH to 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 linked to Ethereum’s genesis block received a total of 48,687 ETH in 2024, worth 171.78 million US dollars sent to the stock exchange has a transfer price of $3,528.
Meanwhile, Ember says the wealthy investor raised 200,000 ETH from the Genesis block in 2015. Ember also believes that Ethereum whales will soon run out of ETH to unload.
“But after eight years of continuous selling, his ETH is almost sold out. There are currently only 7,594 ETH ($25.72 million) left and these will be settled in one or two more sales.”
Blockchain tracking company Lookonchain also recently discovered an Ethereum Genesis wallet that woke up after nearly 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…
