Mystery surrounds $289 million in ETH that moved for the first time in 7 years
Quick Take 92,000 ETH, valued at around $287.7 million, moved for the first time in seven years. The wallet initially received 96,474 ETH valued at $130,320 on Sept. 1, 2015 12:21:51 UTC from the Ethereum Foundation.
No one really knows why 92,000 ETH -4.82% , valued at around $287.7 million, moved for the first time in seven years.
Initial speculation connected the funds to the Ethereum Foundation, with others stating it could be connected to an early contributor to the organization. A source with the Ethereum Foundation told The Block, "This is not an EF wallet."
Data from the crypto data tracking platform Arkham shows that the wallet received 96,474 ETH valued at $130,320 from the Ethereum Foundation on Sept. 1, 2015, 12:21:51 UTC. Seven years ago, this wallet sent the funds to the unlabeled address, which had sat mostly dormant until today.
ETH traded at $3,127 as of 4:48 p.m. ET (20:48 UTC) on July 25, having decreased 7.33% in the past 24 hours, according to The Block Prices for Ethereum .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bond investors expect Powell to tee up September rate cut in Friday speech
Share link:In this post: Powell is expected to hint at a September rate cut during his Friday speech in Jackson Hole. Traders are pricing in a 70% chance of a 0.25% cut and 50bps total easing in 2025. Trump is pressuring the Fed, but Powell may avoid firm commitments before new data.
UK business activity reached its fastest pace in a year
Share link:In this post: UK business activity reached its fastest pace in a year in August, led by growth in services. Government borrowing in July was £1.1bn, lower than the OBR’s £2.1bn forecast, helped by higher tax receipts. Hiring stayed weak despite stronger activity, with employment falling for the eleventh straight month.
UK consumers grow more optimistic following BoE rate cut
Share link:In this post: UK consumers increase their confidence in household budgets after the Bank of England rate cuts. Consumer confidence hit its highest level in months, surprising experts. Rich families spend more, but poor families still struggle with high prices.
Crypto handheld buyers hit with sudden import charges
Share link:In this post: Crypto handheld buyers in the U.S. are being hit with unexpected import duties, sometimes as high as $348. The manufacturer has paused shipments of its $599 gaming device while it investigates varying fees and complaints from early customers. Buyers are frustrated over the lack of upfront cost clarity, with some calling the extra charges misleading and asking for refunds.
Trending news
MoreCrypto prices
More
