The long-sleeping Ethereum (ETH) whale suddenly woke up on Monday and sent more than $773,000 worth of the second-largest digital asset to the largest US cryptocurrency exchange Coinbase.
Cryptocurrency tracking platform Whale Alert Notes The wallet is a pre-mining address and has not been active for more than 8.5 years.
Pre-mining refers to the creation of cryptocurrency assets before they are released publicly.
The pre-mining whale first sent one ETH to Coinbase, followed by 237,748 ETH in a subsequent transaction, according to blockchain tracking platform Arkham Intelligence.
Lookonchain cryptocurrency tracker Notes The address received ETH at the Ethereum Initial Coin Offering (ICO) price of $0.31. With ETH trading at $3,249 at the time of writing, this means that the whale’s holdings have risen by a staggering 1,047,960%.
Other recent large transactions involving ETH on Whale Alert's radar include:
Arkham Intelligence reports that the unknown wallet in the latest transaction was owned by non-fungible token (NFT) marketplace user OpeanSea.
ETH is up more than 2% in the past 24 hours.
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Generated image: DALE3
