A long-dormant Ethereum (ETH) whale suddenly woke up on Monday and transferred its second-largest digital asset worth $773,000 to top US cryptocurrency exchange Coinbase.
Cryptocurrency tracking platform Whale Alert Note This wallet is a pre-mining address that has not been active for over 8.5 years.
Pre-mining refers to crypto assets being created before they are made public.
According to blockchain tracking platform Arkham Intelligence, the premine whale initially sent a single Ethereum to Coinbase and sent 237.748 Ethereum in subsequent transactions.
Crypto tracker Lookonchain Note This address received ETH at an Ethereum initial coin offering (ICO) price of $0.31. At the time of writing, ETH is trading at $3,249, which represents a staggering 1,047,960% increase in Whale's holdings.
Recent large trades related to ETH on Whale Alert's radar include:
Arkham Intelligence notes that the unknown wallet in the last transaction belonged to a user of the non-fungible token (NFT) marketplace OpenSea.
ETH has risen over 2% in the past 24 hours.
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