Another Ethereum whale has just awakened after a decade of silence—but this whale did not sell; instead, it staked all of its assets.
According to blockchain data platform Lookonchain, this Ether wallet holds 40,000 tokens, purchased by the holder during the Ethereum genesis block launch in July 2015 for about $12,000. It is now worth $120 million.
However, this whale from the ICO era did not transfer the funds to a cryptocurrency exchange deposit address but staked all of its ETH holdings, indicating that the whale is doubling down on its confidence in Ethereum.
In the past month, there has been considerable discussion about large cryptocurrency whales selling off, with some analysts attributing recent cryptocurrency price fluctuations to their actions.
Another OG wallet that accumulated 254,908 tokens during the Ether ICO began selling its holdings on November 26.
In the initial sale, the whale sold 20,000 Ether and then steadily reduced its holdings, leaving only $9.3 million worth of Ether as of Saturday.
Meanwhile, another OG that started accumulating 154,076 Ether in 2017 sent 18,000 tokens to the web-based cryptocurrency exchange Bitstamp. Previously, this whale sold 87,824 Ether at an average price of $1,694.
A larger Ether ICO wallet that awakened in September after eight years of silence also chose to stake part of its assets. This whale purchased 1 million tokens during the Ethereum genesis period and transferred 150,000 Ether to a new wallet for staking.
While some OG Ether whales may be selling off, top addresses are still accumulating. According to blockchain data platform Glassnode, last Wednesday, the supply of Ether held by the top 1% of addresses rose to 97.6%, up from 96.1% a year ago.
According to blockchain intelligence platform Arkham, the Eth2 beacon deposit contract holds the most Ether, with 72.4 million tokens, valued at approximately $20.3 billion, accounting for about 60% of the total supply.
Cryptocurrency exchange Binance holds the second-largest amount, with 4 million tokens, while asset management company BlackRock ranks third, holding 3.9 million Ether.
Related: Strategy builds a $1.4 billion cash reserve, increasing Bitcoin (BTC) holdings to 650,000 tokens.
Original article: “Ethereum ICO Wallet Moves $120M After a Decade, Throws It into Staking”
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