Ethereum ICO wallet moves $120M after a decade, throws it into staking

Another Ethereum whale has conscionable woken from dormancy aft a decennary of soundlessness — but alternatively than sell, the whale has deployed its full stash into staking. 

The Ether wallet holds 40,000 tokens, which the holder paid astir $12,000 for during Ethereum’s genesis artifact launch successful July 2015, according to blockchain information level Lookonchain. It is present worthy $120 million. 

However, alternatively than determination the funds to a cryptocurrency speech deposit address, the ICO-era whale has alternatively staked their full ETH holding, suggesting the whale is doubling down connected their condemnation successful Ethereum. 

Source: Lookonchain

There has been sizeable chatter implicit the past period astir large crypto whales selling, with immoderate analysts attributing caller crypto terms fluctuations to their actions.

Two different Ether OGs sold, 1 staked

Another OG wallet, which stacked 254,908 tokens during the Ether ICO, started selling their holdings connected Nov. 26. 

In an archetypal sale, the whale sold 20,000 Ether, then steadily chipped distant until they had conscionable $9.3 cardinal successful Ether near arsenic of Saturday.

At the aforesaid time, different OG who had accumulated 154,076 Ether, starting successful 2017, sent 18,000 tokens to the web-based crypto speech Bitstamp. Previously, the whale had sold disconnected 87,824 Ether astatine an mean terms of $1,694.

Related: CME rekindles ETH ‘super-cycle’ statement arsenic Ether futures measurement tops Bitcoin

A larger Ether ICO wallet that woke up aft 8 years successful September besides opted to involvement immoderate of their stash. The whale snapped up 1 cardinal tokens during Ethereum’s genesis and moved 150,000 Ether to a caller wallet for staking.

Top Ether holders inactive accumulating

While immoderate OG Ether whales mightiness beryllium selling, the apical addresses are inactive accumulating. Last Wednesday, the proviso of Ether held by the apical 1% addresses roseate to 97.6%, up from a twelvemonth ago, erstwhile they lone had 96.1%, according to blockchain information level Glassnode.

The Eth2 Beacon Deposit Contract holds the astir Ether, with 72.4 million, worthy astir $203 billion, and represents astir 60% of the full supply, according to blockchain quality level Arkham.

The Eth2 Beacon Deposit Contract holds the astir Ether. Source: Arkham 

Crypto speech Binance holds the second-largest amount, with 4 million, and plus manager BlackRock makes up the remainder of the apical three, with 3.9 cardinal Ether successful its stash.

Magazine: Animoca’s stake connected altcoin upside, expert eyes $100K Bitcoin: Hodler’s Digest, Nov. 23 – 29