Colossal Ethereum Whale Transfers 145,000 Eth After Spending $276 Million In The Genesis ICO
There was a massive Ethereum whale involved in the first token sale for the Genesis project, otherwise known as the Genesis initial coin offering (ICO), that spent 145,000 ether, which is worth just over $276 million when using the current exchange rates for Ethereum.
The Mega Ethereum Whale distributed 145,000 Ether to 9 different addresses
It has been revealed that on August 14, 2022, on-chain data indicates that a whale who participated in Ethereum Genesis ICO has transferred 145,000 ETH to a variety of addresses as a result of the ICO.
According to the current exchange rate for ETH, the funds were worth $276 million. As far as we know, this was the first time the Genesis ICO participant had spent coins since 2019 when 5,000 ETH exited the whale’s wallet back in 2019.
The address currently holds 0.1177 ETH worth $22,4 after it emptied the 145,000 ether in its possession at the time of writing.
It is worth noting that on Sunday, multiple batches of ETH transfers were sent in increments of 5,000 ETH, 10,000 ETH, and 20,000 ETH. Towards the end of the whale’s transfers, a final transfer of 10,000 ETH was sent at 12:18 a.m. (UTC).
After sending the final 10,000 ether from the wallet, the owner of the wallet also transferred 918.89 canto utility tokens (CANTO) to the recipient.
According to statistics, the wallet has a total of $26,770 worth of ERC20 tokens stored within it at the moment.
As far as the value of the ERC20 tokens ($26,439) is concerned, the majority of the value is held in omisego (OMG).
The address also has a non-fungible token (NFT) crafted by Enjin entitled “Protocol of Quick Response” that is worth 0.02 ETH or $38. On July 31, 2019, at a time when ether was trading at $220 per coin, the whale also sent out 5,000 tokens before sending out the 145,000 ETH.
It is estimated that the USD value of that transaction in July 2019 was approximately $1.1 million.
On Sunday, 145,000 ether was sent to nine different addresses on the blockchain in a single transaction.
In fact, none of the nine addresses that are tied to the 145,000 Ethereum have spent the stashes of coins, and some of those addresses still hold the CANTO token that was sent from the original address.
The term “spent” in this article simply refers to the transfer of ETH from one address to another address, so it’s important to note that.
On the open market, it is impossible for us to know whether or not the coins have been “sold” or whether they are “meant to be sold”.
Cryptocurrencies that are referred to as ‘sleeping’ wake up all the time. After sleeping for three years, it is actually not that long in the grand scheme of things after which they will wake up again.
On August 10, 2022, the blockchain parser called btcparser.com caught 41.55 BTC that was derived from an event that occurred 11 years ago on June 19, 2011. The bitcoins were officially woken up when they were spent at the BTC block height of 748,851.
It seems that blockchain parsers are constantly catching ‘sleeping cryptocurrencies’ as they wake up from their slumber.
The aforementioned ETH whale, however, is far more colossal in size than the old bitcoin that transferred 41 BTC back in 2011 and appears to be much more massive in scale.