Ethereum wallet has been holding ETH since ICO in 2014, has not sold single Ether; here’s the reason
Conor Grogan, a senior Coinbase executive, used Twitter to reveal details on the lone Ethereum wallet that has remained undisturbed after buying Ethereum during the 2014 ICO. By this point, the Ethers owned at this address had grown by a mind-boggling 5,333x. The cause of this is probably not a happy one, though.
Conor Grogan, also known on Twitter as “Conor,” revealed that he could find information on an Ethereum address that has been completely untouchable since Vitalik Buterin and the other co-founders of the second-largest blockchain platform held their initial coin offering (ICO) in the summer of 2014.
The wallet, which Grogan called “one of the most enigmatic addresses in all of cryptocurrency,” purchased Ethereum with $75,000 during the ICO and has not made a transfer since 2014, according to the tweet. The value of ETH in this wallet has increased by a stunning 5,333 times to total more than $400 million at this time. This equates to 250,000 coins in Ethereum.
In addition, when this hard fork occurred, the address received multiple Ethereum Classic (ETC) airdrops, which are now worth $6.5 million. Conor Grogan thinks that the most likely explanation for why this wallet has remained unopened for all these years is that the owner has simply misplaced the key.
This is the only untouched ICO whale wallet I could find
Imagine the mental fortitude of holding through multiple bull and bear markets. Though the far more likely outcome is they lost their keys 😅https://t.co/emWdt2DL0h
— Conor (@jconorgrogan) February 26, 2023
“Imagine the mental fortitude of holding through multiple bull and bear markets. Though the far more likely outcome is, they lost their keys”, he stated.
Ethereum transfers from the Binance exchange have been seen five times in a row for the last three hours, according to well-known cryptocurrency tracker Whale Alert. A single person moved 22,110 ETH valued at $36,185,060, while most handled 20,000 ETH valued at about $32,749,766.
That 102,000 ETH were transmitted from Binance to numerous anonymous wallets may signify significant Ethereum purchases and a switch to cold storage.
A whale purchased about 50,000 Ethereum at the price increases the market experienced the day before about ten days ago. Three lumps of ETH — 14,871, 16,535, and 10,214 — coins were purchased despite the price increase. In anticipation of the release of the Shanghai upgrade, whales are already betting on Ethereum.
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