Early ICO Major Moves 5K ETH to Exchange, Bringing Monthly Volume to $154M
Date: 2024-08-13 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Over the past 35 days, a major cryptocurrency holder known as a “whale” has moved 48,500 Ether (ETH), worth over $154 million, to the OKX crypto exchange. The average price of each move was $3,176 per ETH. The latest transaction occurred on Monday, when another 5,000 ETH, worth $13.2 million, was sent to the exchange.
The investor purchased Ether during the 2014 ICO for just $0.31 per unit. The entire transaction was recorded using the GnosisSafe wallet, which received the funds at the time of purchase. The address to which the funds were transferred belongs to OKX and was confirmed using the AMLBot blockchain tracking tool.
Despite the significant transfers, there is still 15,600 ETH left in the GnosisSafe wallet, equivalent to $41 million. The owner of the wallet remains unknown, adding to the mystery of these large market moves.
Such large fund movements are not typically seen by early market participants, and may indicate that the owner is looking to sell their tokens, list them on an exchange for staking, or diversify their holdings by trading Ether for other cryptocurrencies. Such moves by large investors, known as “whales” due to their ability to significantly influence the market, can change the price or overall sentiment around a particular token.
The price of Ether has fallen 14% over the past 30 days, while Bitcoin has increased 3% over the same period, according to CoinGecko.
