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Blockchain tracking platform Whale Alert, which tracks large cryptocurrency transfers, has awakened an ancient cryptocurrency whale holding... Millions of dollars in Ethereum.
The tweet specified that this wallet was a pre-mining address that returned to active life after 9.4 years and contained 1,940 ETH.
Ethereum ICO participant returns huge profits
To add more details to this, analytics account @lookonchain tweeted that this pre-mined whale was a participant in the Ethereum Initial Coin Offering (ICO) that secured 1,940 ETH from the Ethereum Genesis block. In 2014, his Ether cost $601, while it is now worth $6,567,522, representing a 1,092,728% increase in value.
Whale activity regarding Ethereum was generally high this week. On Thursday, Whale Alert shared details of several other large ETH transactions: 15,000 ETH was withdrawn from the world's largest cryptocurrency exchange, Binance, and 47,534 ETH was exchanged between two anonymous digital wallets. The value of these transactions amounted to $50,710,678 and $164,899,942, respectively.
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Ethereum market performance
Over the past two days, the second largest cryptocurrency, Ethereum, saw a roughly 5% decline, falling from $3,495 to $3,320. So far, ETH has registered a marginal rise of 3%, reaching $3,420 per coin.
Earlier this month, Ethereum faced a stunning 22% collapse as it collapsed from the $4,026 area to the $3,102 level. This decline mirrors the collapse of Bitcoin, which occurred when Fed Chair Powell announced that the Fed would reduce its dovish activity next year.
BlackRock's Ethereum ETF surpasses the Bitcoin ETF
like Reported by U. TodayThis week, Blackrock's spot Ethereum ETF — the iShares Ethereum Trust ETF (ETHA) — significantly outperformed a spot Bitcoin ETF managed by the same wealth management firm.
On Tuesday, ETHA recorded total inflows of about $44 million, while the iShares Bitcoin Trust ETF (IBIT) faced massive outflows of about $188 million on the same day.
Bitcoin-based spot exchange-traded funds were approved by the US Securities and Exchange Commission in January, almost a year to the day after filings were made with the regulator. It took the SEC much less time to consider applications for Ethereum ETFs, and approval was issued in May of this year; They started trading about two months later.
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