Ethereum Whale Transfers 150,000 ETH Worth $659 Million for Staking
Activity has emerged from an Ethereum whale wallet that was inactive for nearly a decade. The blockchain analytics platform Lookonchain reported a transfer of 150,000 ETH, valued at approximately $659 million, to a new wallet for staking.
Wallet Details
- The wallet received 1,000,000 ETH during the ICO, with an initial investment of $310,000.
- This wallet had no recorded activity for eight years.
- The current total value of the remaining holdings is around $4.4 billion.
- The 150,000 ETH moved for staking is valued at $659 million.
Lookonchain indicated that the whale still retains 105,000 ETH across two wallets. This staking move is perceived as potentially reducing selling pressure on ETH.
Recent trends show Bitcoin whales have shifted positions to invest significantly in ETH. For instance:
- A Bitcoin wallet liquidated assets worth $1.69 billion to fund $334 million in ETH long positions.
- Another wallet sold 22,769 BTC, valued at $2.59 billion, for 472,920 ETH.
As of now, one unit of Ethereum is priced at $4,393.64.