After remaining inactive for eight years, a wallet address containing pre-mined Ethereum worth $116 million has transferred all of its 61,216 Ether to an address on the Kraken.
Ethereum ICO Whale Has Transferred All of its 61,216 Ether to an Address on the Kraken
After remaining inactive for eight years, a wallet address containing pre-mined Ethereum worth $116 million has transferred all of its 61,216 Ether to an address on the Kraken cryptocurrency exchange.
The wallet was a part of Ethereum's public crowdsale in 2014, according to Lookonchain, and the owner secured their tokens at an ICO price of roughly $0.31 per ETH. In June 2014, the Ethereum ecosystem held a sale event that gave early team members and co-founders the chance to take part and gather pre-mined Ether.
The tokens are now worth more than $116 million eight years later. Although the wallet owner's identity and the motivations behind the money transfer are unclear, they could be due to a variety of reasons, such as profiting from the rise in Ethereum's price.
To avoid any loss brought on by human error, the wallet's owner sent a test transaction worth 0.05 ETH to the Kraken address before starting the whole transaction. Despite the size of the transfer, the fee for the transaction was only $1.5, and the gas price was 25.475673161 gwei.
