One of the most popular cryptocurrencies, Ethereum, recently experienced an abrupt quake. After 8 years of inactivity, a dormant pre-mined deal containing 200 ETH, or about $381,566 USD, suddenly reactivated.
When Ethereum first launched, the pockets were acknowledged as a component of the initial token offering (ICO), signaling an intriguing turn for those keeping track of the cryptocurrency.
This reactivation coincided with the appearance of a far larger Ethereum whale who, after an eight-year hiatus, broke his silence by putting a staggering 61,216 ETH, or nearly $116 million, into the cryptocurrency exchange Kraken.
This significant action was identified as coming from an early Ethereum ICO participant during the Genesis event.
The price of Ethereum has remained constant despite these market tremors. Ethereum, also known as ETH, demonstrated its resistance to this unexpected movement of pre-mined Ethereum by closing at $1,902.26 with a slight 0.4% development. Currently, Ethereum has a $228.6 billion market value.
Back in 2014, Ethereum had its initial coin offering (ICO), a groundbreaking event in the cryptocurrency industry when tokens were sold for around $0.31 each.
Those who were fortunate enough to have taken part in the ICO and kept their Ethereum would now be witnessing a significant return on investment, with the current value above $1,900. These most recent whale activities highlight Ethereum’s long-term value and highlight the potential market impact of massive token holders.