HomeEthereumAncient Ethereum Whale Comes to Life, Moves $116,000,000 in ETH with Over...

Ancient Ethereum Whale Comes to Life, Moves $116,000,000 in ETH with Over 616,000% Gain


A mysterious wallet address that has been around since the inception of Ethereum (ETH) has just moved its entire stash of ETH after lying hidden for around eight years.

According to the chain of blocks tracker Lookonchain, the Ethereum whale received 61,216 ETH on July 30, 2015 after participating in the second largest crypto asset’s initial coin offering (ICO) the previous year.

Hours ago, the whale transferred all ETH holdings to an address that the blockchain tracker identified as belonging to Kraken, a cryptocurrency exchange.

Source: Lookonchain/Twitter

The blockchain tracker says that the whale received the ETH from the Ethereum Genesis contract at a cost of about $0.31, which translates to a gain of about 616,029% in about eight years. The entire ETH property, now worth around $116.9 million, cost the whale just under $19,000 at the time of the ICO.

Ethereum is trading at $1,910 at the time of writing.

While the mystery wallet now has zero Ethereum, there are plenty of other tokens it holds.

During the Ethereum ICO, more than 50 million ETH were sold raising around $17.3 million at the time. Some of the proceeds went to the non-profit Ethereum Foundation, while a portion was allocated to the founding team of the crypto asset.

A similar Ethereum transfer by a hitherto dormant whale of coins acquired during the crypto-asset’s early days occurred in April. The whale then moved 2,635 ETH for an equally staggering 594,000% profit.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

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