An Ethereum investor, dormant for over two years, has resurfaced with a staggering $7.4 million stake in the cryptocurrency.
In a surprising move, an Ethereum “whale” has come back to life after being dormant for over two years. The large investor, identified as an early participant in Ethereum’s initial coin offering (ICO), staked 4,032 ETH, equivalent to approximately $7.4 million, according to data from Lookonchain.
This sizeable stake, made just hours ago, marks the whale’s first activity in 2.4 years, stirring considerable excitement and speculation within the crypto community.
The whale, whose address was shared on Lookonchain’s Twitter page, was a part of Ethereum’s genesis – the network’s inception phase when the Ethereum ICO took place.
During the ICO, this investor received a staggering 60,000 ETH. Ethereum’s genesis event was a public crowdsale that occurred in July and August 2014, where investors purchased ETH in exchange for Bitcoin.
The whale’s Ethereum balance at the time of the tweet was 6.751 ETH, valued at approximately $12,288.33, based on Ethereum’s current value. The whale’s most recent transaction was recorded about six hours prior, and it’s the same transaction in which the 4,032 ETH stake was made.
Whether this activity is indicative of a larger trend among Ethereum ICO participants, or an isolated event, only time will tell.
Source: https://u.today/ethereum-genesis-whale-emerges