Spending $276M in Ether — Colossal Ethereum Whale That Participated in the Genesis ICO Transfers 145,000 ETH – Bitcoin News

After three years of dormancy, a massive ethereum whale that participated in the project’s first token sale, also known as the Genesis initial coin offering (ICO), spent 145,000 ether worth just over $276 million using today’s ethereum exchange rates.

Mega Ethereum Whale Delivers 145,000 Ethereum to 9 Different Addresses

Onchain data shows that a whale participant in the Ethereum Genesis ICO moved 145,000 ETH between various addresses on August 14, 2022. According to current ETH exchange rates, the funds were valued at $276 million. It was the first time the Genesis ICO participant spent coins since 2019, back when 5,000 ETH exited the whale’s wallet. At the time of writing, the address currently holds 0.‍1177 ETH worth $22,4 after it emptied the 145,000 ether.

Transfers were made on Sunday in multiple batches: 5000, 10,000, and 20,000 ETC. At 12:18 AM (UTC), the whale sent the final 10,000ETH transfer. After receiving the final 10,000 Ethereum from the wallet, the wallet owner sent 918.89 canto utility to token (CANTO). Statistic shows that $26,770 of ERC20 tokens are currently in the wallet. The largest amount of ERC20 token worth ($26.439) is kept in omisego.

The address also has an Enjin-crafted “Protocol of Quick Response” non-fungible token (NFT) worth 0.02 ETH or $38. The whale sent out 145,000 Ethereum on July 31st, 2019, before ether exchanged for $220 per coin. The transaction was worth approximately $1.1million USD. On Sunday, 145,000 Ethereum was sent to nine different blockchain addresses.

Nine addresses that are tied to the 145,000 ethereum stash have not spent their coins. Some addresses also hold the CANTO coin sent from the original address. It’s worth noting that the term “spent” in this article, simply means the transfer of ETH from one address to another address. There really is no way of knowing whether or not the coins were “sold” or are “meant to be sold” on the open market.

So-called ‘sleeping cryptocurrencies’ wake up all the time, and after remaining idle for three years, it’s really not that long in the grand scheme of things. On August 10, 2022 the blockchain parser bitcoinparser.com captured 41.55 BTC, which were derived eleven years ago (or June 19, 2011). The bitcoins officially ‘woke up’ at BTC block height 748,851 when they were spent. Blockchain parsers are always catching ‘sleeping cryptocurrencies’ waking up. But the aforesaid ETH whale is much bigger than the previous bitcoiner who transferred 41 BTC starting in 2011.

Let us know your thoughts on the wasted 145,000 ethereum after it had been dormant three years. Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been actively involved since then. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for Bitcoin.com News, with over 5,700 articles on the most disruptive protocols currently in development.