Ethereum (ETH) recently witnessed a remarkable event that sent ripples of excitement through the crypto community. An Ethereum whale has emerged from a long slumber, making a substantial comeback on the scene after lying dormant for over two years.
A “whale” is a term used to describe individuals or entities that hold significant amounts of cryptocurrency.
The identity of this prominent investor has been revealed as one of the early participants in Ethereum’s groundbreaking Initial Coin Offering (ICO), which played a pivotal role in starting the platform.
Ethereum Whale resurfaces with a stake of 4,032 ETH
The Ethereum Whalewho played a significant role in the early days of Ethereum, recently made headlines by staking an impressive 4,032 ETH, valued at approximately $7.4 million, according to Lookonchain, a renowned blockchain analytics platform.
A whale that had been inactive for 2.4 years created a contract 3 hours ago and bet 4,032 $ETH ($7.4 million).
The whale is an Ethereum ICO participant and received 60K $ETH in Genesis.https://t.co/qmVlopOXke pic.twitter.com/eUVWJHyXAJ
— Lookonchain (@lookonchain) May 18, 2023
The whale’s resurgence, which occurred just hours ago, marks its first visible activity in a span of roughly two and a half years. This sudden re-entry into the Ethereum ecosystem has sparked a flurry of excitement and conjecture among cryptocurrency enthusiasts.
The whale’s Ethereum address was even shared on the Lookonchain Twitter page, further fueling the intrigue surrounding this event.
Source: Lookonchain
Current ETH price and participation in the Whale ICO
The current price of ETH, according to CoinGeckoIt sits at $1,824, experiencing a 1.7% rally in the last 24 hours and a very modest 0.1% rise over the course of the last seven days.
Source: Coingecko
The history of this whale goes back to the Genesis phase of Ethereum, specifically during the ICO of the platform, when it first took shape. By participating in the ICO, this investor received a staggering 60,000 ETH, a testament to his initial belief in and support for the Ethereum network.
He ICOwhich took place in July and August 2014, involved a public crowdsale where people could buy ETH by exchanging Bitcoin for the cryptocurrency, which played a crucial role in the growth and development of Ethereum.
ETHUSD still working its way up to the crucial $1,900 level. Chart: TradingView.com
Recent Whale transaction and ETH balance
As news of the Ethereum whale’s re-entry to the crypto scene captivates the community, details about its recent transaction and Ethereum balance have emerged.
At the time of the tweet, the whale held a remaining Ethereum balance of 6,751 ETH, which was worth approximately $12,288, determined by Ethereum’s current market value.
These transactional insights offer a glimpse into the ongoing activities of the Ethereum whale, providing a deeper understanding of its engagement and highlighting its notable involvement within the Ethereum ecosystem.
– iStock Featured Image
