wow! The balance of this Ethereum whale has dropped from 145,000 ETH to 1 ETH. – Mag Mirror

An Ethereum wallet that had been dormant for about three years has now become active and transferring tokens. Over the past day, the whale transferred around 145,000 ETH to different wallets.

According to on-chain data, the tokens were mostly transferred in batches of 5000, 10000, 15000, and 20000. The wallet, as such, has its roots associated with the genesis ICO through which it obtained 150k ETH. In 2019, the wallet sent 5,000 tokens, and three years ago it engaged in two transactions involving a negligible amount of ETH [0,00000111222333 x 2 ETH].

Along the same lines, Chinese journalist Colin Wu tweeted,

β€œThe initial source of ETH for this whale was to participate in the Ethereum Genesis ICO, and a total of 150,000 ETH was obtained, of which 5,000 ETH was transferred to the Bitfinex3 exchange address on July 31, 2019 ($ETH=219). Β»

After emptying its wallet, the whale engaged in a few “in” transactions. Looking back, his balance was 1.189 ETH [2339,2 $] at time of going to press.

Ethereum and its macro trends

The dormant Ethereum bid bowed despite said whale transferring tokens. According to data from Glassnode, active supply last seen 3-6 months ago hit a one-month high of 9.7 million ETH on Monday. On the same subject : This game-changing under-listed crypto, urgently buy before the next cryptocurrency market rally!. This implies that participants who bought their tokens a few months ago continue to HODL them.

Interestingly, the number of addresses with a non-zero balance reached an ATH of 85 million. This new milestone comes as no surprise given the surge in the alt-king’s price and the positive sentiment associated with it prior to the merger.

Over the past week, Ethereum has surged 14%. In fact, over the weekend, the top alt broke the $2,000 mark for the first time since the end of May. Indeed, the number of lost addresses has decreased and is currently at its lowest level for a month, ie 33.2 million.

So, even though the giant ICO Genesis whale has likely sold off its ETH, macro trends are still quite bullish for Ethereum.

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Thomas E.
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wow! The balance of this Ethereum whale has dropped from 145,000 ETH to 1 ETH. – Mag Mirror

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