While Bitcoin (BTC) struggles to hold on at $30,000, Ethereum is trying to protect $1,900.
Before the FED interest rate decision on July 26, while the crypto money market continued its horizontal course, a whale made an ETH move.
Popular cryptocurrency platform Lookonchain said in a post that an Ethereum ICO participant bought more than 61,000 ETH in 2015 and woke up after 8 years of inactivity.
Accordingly, after 8 years of sleep, the whale transferred 61,216 ETH today to a wallet owned by crypto exchange Kraken.
“An Ethereum ICO participant woke up after 8 years of inactivity and transferred 61,216 ETH (worth $116 million) 2 hours ago to a wallet owned by cryptocurrency exchange Kraken.”
While the approximate value of Ethereums is $116 million today, the whale bought the ETHs at the ICO price of $0.31.
Experts evaluating this transfer of the whale who bought Ethereum from the ICO said that such large movements from early investors are typically rare, and may mean that the transfer was made to sell or diversify its portfolio.
*Not investment advice.