Ethereum

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
Ethereum, one of the leading cryptocurrencies in the market, recently <a href="https://twitter.com/whale_alert/status/1681731430945046528" rel="noopener noreferrer nofollow">experienced</a> an unexpected tremor. A dormant pre-mined address containing 200 ETH, approximately $381,566 USD, sprang back into activity after 8 years of inactivity. 
The wallet was identified as part of the initial coin offering (ICO) at Ethereum's inception, marking a fascinating shift for those tracking the cryptocurrency. 
This reactivation followed the emergence of an even larger Ethereum whale, who ended an eight-year dormancy by <a href="https://u.today/major-ethereum-whale-awakens-after-8-years-of-dormancy" rel="noopener noreferrer nofollow">depositing</a> a colossal 61,216 ETH, which equates to about $116 million, into the cryptocurrency exchange Kraken. 
This considerable movement was identified as originating from an early participant in Ethereum's ICO during the Genesis event. 
<a href="https://u.today/is-ethereum-eth-poised-for-run-toward-2000" rel="noopener noreferrer nofollow">card</a> 
Despite these market shakes, the price of Ethereum has remained steady. Ethereum, also known as ETH, closed at $1,902.26, with a modest 0.4% growth, proving its resilience to this sudden movement of pre-mined Ethereum. The market capitalization for Ethereum is presently $228.6 billion.&nbsp;&nbsp; 
Ethereum's ICO took place back in 2014, a pioneering event in the cryptocurrency world, where tokens were sold for approximately $0.31 each. 
Those fortunate enough to have participated in the ICO and held onto their Ethereum would now be seeing a considerable return on investment, with the current price exceeding $1,900. These recent whale movements illustrate the long-term value of Ethereum and underscore the potential impact of large token holders on the market.

Pre-mined Ethereum Reawakens, ETH Stays Steady Over $1,900

U_Today

Other articles published on Jul 19, 2023

G20’s FSB Calls for Global Crypto Regulations To Iron-Out Issues

NFTScan Now Supports Linea Network for both NFTScan Explorer and NFTScan Developer Platform

Bitcoin’s Shocking $30K Plunge: Analyst Points Finger at US, Will the Dive Deepen?

City of GEB Preview Open

Long-Forgotten Ethereum Whale With $116M in ETH Awakens After 8 Years

CoinMarketCap Releases Intriguing H1 2023 Report on Crypto Market

Join our free newsletter for daily crypto updates!