Massive Ethereum ICO investor resurfaces, commiting 150,000 ETH: Insider Information
In a surprising turn of events, a dormant Ethereum whale, who had been inactive for eight long years, has reactivated a wallet containing 1,000,000 ETH, currently worth an astonishing $4.3 billion. This return of the whale marks the movement of a tremendous amount of Ethereum riches.
According to the analyst account Lookonchain, the whale obtained the million coins by investing $310,000 in the Ethereum Initial Coin Offering (ICO) via three wallets. The whale's holdings are now distributed across two wallets, with a total of 105,000 ETH remaining, valued at approximately $451.5 million.
The whale's activity has not gone unnoticed in the crypto market. Five newly created wallets have collectively purchased 102,455 ETH, worth $441.6 million, via the FalconX platform. This move suggests that the second-largest cryptocurrency, Ethereum, is currently on a buying spree by whales.
Bitmine, a player linked to Fundstrat's Tom Lee, has also shown a strong bullish sentiment towards Ethereum. Bitmine recently acquired 69,603 ETH for around $300 million from BitGo and Galaxy Digital.
The activity of these whales seems to be having a positive impact on Ethereum's price. Over the past day, Ethereum has experienced a 3.55% rise, reaching a value of $4,420. This has resulted in a 2% increase on an hourly chart, creating a significant green candle.
As the crypto market continues to evolve, the activities of these whales will undoubtedly be closely watched by investors and analysts alike. The return of the dormant whale, in particular, serves as a reminder of the potential for significant gains in the crypto market, even for assets that have been seemingly dormant for years.
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