Ethereum

Coin

A wallet address containing pre-mined <a target="_blank" href="https://tokeninsight.com/en/coins/ethereum/overview" rel="noopener noreferrer nofollow">Ethereum</a> worth $116 million moved its entire stash of 61,216 Ether to an address in the <a target="_blank" href="https://tokeninsight.com/en/exchanges/kraken" rel="noopener noreferrer nofollow">Kraken</a> crypto exchange after lying dormant for eight years. 
Pre-mined ETH was issued as a reward to Ethereum’s early supporters, including those who funded the project during its Initial Coin Offering (ICO). The network started off with a supply of 72 million ETH, of which 83% was distributed to those who purchased the cryptocurrency in a crowd sale conducted in July and August 2014. The average purchase price of ETH amounted to $0.30 per coin for those that took part. 
While most early buyers sold off their coins as the price of ETH rose significantly over the years, the remaining pre-mine addresses were thought to be staunch supporters of the cryptocurrency or those that lost their private keys and could no longer access their wallets. 
&nbsp; 
<a target="_blank" href="https://tokeninsight.com/en/cryptocurrencies" rel="noopener noreferrer nofollow">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a href="mailto:news@tokeninsight.com" rel="noopener noreferrer nofollow">news@tokeninsight.com</a>. Your trust will be well respected.

$116 million Pre-mined $ETH Transferred to Kraken Exchange After Dormant for 8 Years

TokenInsight

Other articles published on Jul 19, 2023

ArDrive Unveils Turbo, a Blockchain-Powered Upload Service Redefining Permanent Data Storage

Will BARC Stock Continue its Bullishness Ahead of Q2 2023?

CoinMarketCap Releases Intriguing H1 2023 Report on Crypto Market

Web3 Infrastructure Cosmic Wire Comes Out Of Stealth With $30M Seed Round

NFTs in Education

US Lawmaker Demands Gary Gensler Stop Targeting Cryptocurrencies

Join our free newsletter for daily crypto updates!