Dormant for over 5 years, the address moved 10,266 ETH (~$16M at the time of writing). Experts from Lookonchain drew attention to this.
An address that has been dormant for more than 5 years transferred 10,266 $ETH ($16M) out.
The 10,266 $ETH was obtained through mining in 2017.
Among them, 1,322 $ETH ($2M) was transferred to #Poloniex.https://t.co/hsXiBh5iS2 pic.twitter.com/7L1nkx6Fe6
— lookonchain (@lookonchain) March 6, 2023
Keith sent the funds to another address, from which he subsequently distributed them to five wallets. At the same time, 2500 ETH (~$3.9 million) he translated to the Poloniex crypto exchange.
The user accumulated these funds in 2017, when the asset was worth about $370. At the time of writing, Ethereum is trading above $1,560.
By the end of February, the share of whales in the total supply of Ethereum reached 39%. According to IntoTheBlock, the increase in the concentration of coins among large holders is associated with the transition of the network to the Proof-of-Stake algorithm with the possibility of staking.
Recall that the developers of Ethereum set the date for the activation of the Shanghai-Capella (Shapella) hard fork in the main network around mid-April.
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