According to data provided by Spot On Chain, an Ethereum whale from the ICO era recently sent $12.1 million into the Kraken exchange.
The whale in question received a total of 107,000 ETH at Genesis. This massive sum would be worth roughly $243 million at current prices. These tokens cost them just $31,000 back then.
Ethereum (ETH) is currently the worst-performing cryptocurrency in the top 10 with a weekly drop of 3.2%, according to CoinGecko data. It is down 1.2% over the past 24 hours.
The flagship altcoin is still down 50.5% from the all-time high that was achieved in late 2021 despite the fact that Bitcoin hit a record peak in May.
Earlier this week, another Ethereum ICO whale deposited more than $5 million worth of ETH to the Binance exchange after an entire decade of inactivity.
Dan Burgin
Vladislav Sopov