Thursday, June 20, 2024
Blockchain

61,216.6 ETH from Ethereum ICO Address Moved to Kraken

An Ethereum (ETH) address associated with the initial coin offering (ICO) in 2015 has transferred a staggering 61,216.6 ETH, equivalent to $116 million, to the Kraken exchange a few hours ago. This transaction marks the first movement of these funds since their acquisition eight years ago.

source: etherscan

The address in question received 61,216.6 ETH from the Ethereum genesis block on July 30, 2015. At the time of the ICO, the value of these tokens was a mere $19,038, with each ETH priced at $0.311. Fast forward to today, and the same amount of ETH is worth an astounding $116 million, showcasing the tremendous growth and adoption of Ethereum over the years.

source: etherscan

The transfer of such a substantial amount of ETH to Kraken could indicate a potential huge sale pressure or a strategic move by the original ICO participant. However, the exact intent behind this transaction remains unknown.

It’s worth noting that the transactions could influence Ethereum price given the substantial amount involved.

Image source: Shutterstock

Source Link

Share with your friends!

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Please enter CoinGecko Free Api Key to get this plugin works.

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

x  Powerful Protection for WordPress, from Shield Security
This Site Is Protected By
Shield Security