LIVE💥Ancient $ETH ICO Investor Resurfaces Almost 10 Years After Ethereum Launch! What is this Investor Up To?
My instincts tells me naughty bro is about to dump $6.7 Million worth of ETH on the rest of us!🤷
After nearly a decade of silence, an early Ethereum investor has resurfaced, making a massive move by transferring 2,000 ETH from their wallet. This hefty sum, now worth around $6.7 million, has caught the attention of blockchain analysts at Lookonchain.
As of now, Ethereum, the second-largest cryptocurrency, is trading at $3,354 on major exchanges.
This isn't the only surprise. Similar events have been unfolding recently. Other Ethereum ICO participants, long dormant, have begun to move their ETH holdings. Just last month, one individual deposited 1,732 ETH into Kraken following Ethereum's surge past $3,000.
And the trend goes back further. Back in November 2023, 3,000 ETH landed in Kraken from an account that originally received 20,000 ETH during Ethereum's Genesis.
These moves come in different shapes and sizes. Some investors are consolidating their assets in exchanges like Kraken, while others are spreading them across various addresses.
Why the sudden activity? Well, it's no secret that early Ethereum investors have seen jaw-dropping returns on their investments. With ETH's value skyrocketing since its ICO, cashing out now means locking in significant profits.
But there could be other reasons too. Some might need liquidity for personal or business purposes. Plus, factors like market sentiment and recent technical upgrades, like the Dencun upgrade, might be influencing decisions.
The Dencun upgrade, in particular, is expected to shake things up by slashing rollup transaction fees and speeding up blockchain operations. By introducing larger data packets known as "blobs," it's set to reduce costs associated with popular rollups like Arbitrum, Optimism, and Starknet.
In this evolving crypto landscape, the awakening of these long-dormant investors hints at a new chapter in Ethereum's journey.
