The whale transfer has ignited the curiosity of the ETH community, with some calling it dumping and others a staking move
Image: Shutterstock
An Ethereum wallet from the ICO-era, which participated in the genesis initial coin offering (ICO), saw activity again on August 14 after three years of staying dormant. The wallet obtained 150,000 ETH in 2014.
When Ethereum’s price spiked to $2,000, the whale wallet transferred 145,000 ETH to multiple wallet addresses. The transfers were done in several batches of 5,000 ETH, with some transfers going over 10,000 ETH, too. The total value of these transferred Ether tokens was around $280 million. The whale wallet now has a balance of 0.107 ETH left.
Source: Etherscan, Ethereum ICO-era wallet transactions
The wallet was previously activated in 2019 when 5,000 ETH were sent to the Bitfinex exchange when Ether was at $219. The overall transaction was valued at a few million dollars. This was the second time the wallet had been active since the ICO.