A mysterious wallet address that has been around since the creation of Ethereum (ETH) has just moved its entire ETH supply after lying dormant for about eight years.
According to blockchain tracker Lookonchain, the Ethereum whale received 61,216 ETH on July 30, 2015 after participating in the second-largest crypto asset’s initial coin offering (ICO) last year.
Hours ago, the whale transferred all ETH holdings to an address identified by the blockchain tracker as belonging to Kraken, a cryptocurrency exchange.
The blockchain tracker says that the whale received ETH from Ethereum’s Genesis contract for an estimated cost of $0.31, which translates to a profit of about 616,029% in about eight years. The entire ETH holding, now worth about $116.9 million, cost the whale just under $19,000 at the time of the ICO.
Ethereum is trading at USD 1,910 at the time of writing.
While the mysterious wallet now has zero Ethereum, there are plenty of other tokens it owns.
More than 50 million ETH were sold during Ethereum’s ICO, raising approximately $17.3 million at the time. A portion of the proceeds went to the non-profit Ethereum Foundation, while a portion was allocated to the crypto-asset’s founding team.
A similar transfer of Ethereum by a hitherto dormant whale of coins acquired during the early days of the crypto asset took place in April. Then the whale moved 2,635 ETH with an equally eye-popping 594,000% profit.
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