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Ethereum (ETH) recently witnessed a momentous event that caused a stir in the cryptocurrency community. The Ethereum Whale has emerged from a long slumber, essentially returning to the scene after being dormant for over two years.
“Whale” is a term used to describe individuals or entities that own a significant amount of cryptocurrencies.
The identity of this well-known investor has been revealed as one of the first participants in the groundbreaking Ethereum Initial Coin Offering (ICO), which played a key role in the creation of the platform.
Ethereum whale returns with a share of 4032 ETH
The Ethereum whale, which played a significant role in the early days of Ethereum, recently made headlines by staking an impressive 4,032 ETH worth about $7.4 million, according to Lookonchain, a reputable blockchain analytics platform.
A whale that had been dormant for 2.4 years created a contract 3 hrs ago and staked 4,032 $ETH ($7.4M).
The whale is an Ethereum ICO participant and received 60K $ETH at Genesis.https://t.co/qmVlopOXke pic.twitter.com/eUVWJHyXAJ
— lookonchain (@lookonchain) May 18, 2023
The whale’s resurgence just hours ago marks its first visible activity in about two and a half years. This sudden re-entry into the Ethereum ecosystem has sparked a surge of excitement and conjecture among cryptocurrency enthusiasts.
The whale’s Ethereum address was even posted on the Lookonchain Twitter page, which further fueled the intrigue surrounding this event.
Current ETH price and Whale participation in ICO
The current price of ETH, according to CoinGecko, is $1,824, up 1.7% over the last 24 hours and a very modest 0.1% up over the past seven days.
The history of this whale dates back to the Genesis phase of Ethereum, especially during the platform’s ICO when it first took shape. By participating in the ICO, this investor received an astounding 60,000 ETH, showing his early faith and support for the Ethereum network.
The ICO, which took place in July and August 2014, included a public crowdsale where people could buy ETH by exchanging bitcoin for cryptocurrency, which played a crucial role in the growth and development of Ethereum.
ETHUSD is still heading towards the critical $1900 mark. Chart: TradingView.com
Recent Whale transaction and ETH balance
As news of the Ethereum whale’s return to the crypto scene grips the community, details about his recent Ethereum transaction and balance have surfaced.
At the time of the tweet, the whale had a remaining Ethereum balance of 6,751 ETH, which was approximately $12,288 as determined by the current market value of Ethereum.
These transaction details provide insight into the current activities of the Ethereum whale, providing a deeper understanding of their involvement and highlighting their prominent participation in the Ethereum ecosystem.
– Featured image from iStock