An Ethereum ICO participant reemerged after 8.2 years of inactivity and moved 2,000 ETH worth $3.2 million to four different addresses today.
Earlier today, Whale Alert, a real-time blockchain data tracer, announced the re-emergence of one of the oldest Ethereum wallets. The post says: “A dormant pre-mine address containing 2,000 ETH (3,198,920 USD) has just been activated after 8.2 years!” Commenters on the post expect there to be a pump soon. Let’s dive into the story and what’s next for Ethereum.
💤 A dormant pre-mine address containing 2,000 #ETH (3,198,920 USD) has just been activated after 8.2 years!https://t.co/0Mpx77N5fs
— Whale Alert (@whale_alert) October 21, 2023
Lookonchain Discusses the Dormant Ethereum Wallet Further
Following Whale Alert’s post, Lookonchain also posted the dormant Ethereum wallet on X. The Ethereum wallet held 2,000 ETH and moved all to 4 separate addresses.
Apparently, the wallet holder was an Ethereum ICO (Initial Coin Offering) participant who acquired 2,000 ETH at a total cost of ~$620. At that time, the ETH ICO price was ~$0.31 (1ETH = $0.31), and the wallet was created during the ongoing Ethereum ICO in 2015.
An #Ethereum #ICO participant woke up after 8.2 years of dormancy and transferred all 2,000 $ETH($3.2M currently) to 4 addresses 10 mins ago.
He/she received 2,000 $ETH(the cost is ~$620) at Ethereum Genesis, and the ETH ICO price is ~$0.31.https://t.co/zyMsEZIlb3 pic.twitter.com/juvlKCnIsW
— Lookonchain (@lookonchain) October 21, 2023
Ethereum (ETH) Developers Tease Devnet #10 Release
As Ethereum developers gear up for the Deneb-Cancun upgrade, they are dropping hints about the launch of Devnet #10. It is anticipated to be the last devnet before the upgrade release on public Ethereum testnet such as Goerli.
Barnabas Busa, a DevOps engineer at the Ethereum Foundation, hints at the dependency on client teams for new software releases. Once the software is ready, Devnet #10, hopefully the last, could launch.
Furthermore, Ethereum developers discussed a fresh Deneb release for CL (Client Libraries) clients. It’s identified as v1.4.0-beta.3 and dubbed ‘the summoning’ introduces two key modifications. The first one is mainnet KZG configurations, while the other is the new gossip rule, which ensures that CL nodes do not transmit more blobs than the maximum amount per block.
Today’s News on Ethereum Price Action
Ethereum is the second largest cryptocurrency by market capitalization of $195,837,936,137 and is also the leading altcoin of 2023. In the last 24 hours, it rose from $1,606 to $1,632, a significant increase of 4.96% within 7 days.
Following Monday’s false spot Bitcoin ETF approval news, Ethereum rapidly rose. However, with the rumor debunked by BlackRock, Ethereum and Bitcoin both lost their gains.
Moreover, recent data from the blockchain shows that big cryptocurrency investors, who have less than 1 million in their Ethereum wallets, now own 32.3% of the total Ethereum in circulation. This has yet to happen since 2016.
Additionally, Santiment, a company that analyzes on-chain data, noticed lots of transactions worth over $1 million in Ethereum at the start of the week. This hints at more high-value activity by whales on the Ethereum network.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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