Cryptocurrency transferred to Ethereum for a record $ 646 million after three years of inactivity

One of the largest holders of Ethereum ETH $4,263.02 Bridged Ether (StarkGate) -0.51% Market capitalization $0.1 billion VOL. 24 hours $0.94 billion , which has remained inactive for more than three years, moved 150,000 ETH to a staking address on September 4. At the current exchange rate, this is about $ 646 million, The Block reports.

According to EmberCN, the transactions were made by three addresses that participated in the Ethereum ICO in 2014. The last time these wallets were active was in February 2022, and their transfers did not involve the ether.

Earlier in August, several large participants in the initial public offering of ETH also resumed the movement of funds. In particular, one address transferred about $ 19 million in ETH tokens to the Kraken exchange and subsequently sold an additional 1,060 ETH. Another sent 2,300 ETH to the same platform.

Ethereum’s ICRbgnO took place from July 22 to September 2, 2014, and raised $ 18.3 million. More than 60 million tokens were sold at an average price of $ 0.31 per token.

As of 1:20 a.m. ET on Friday, ETH was worth $ 4,331, down 1% overnight. At the same time, bitcoin BTC $110,376.00 Mezo Wrapped BTC -0.43% Market capitalization $40.84 million VOL. 24 hours $0.89 billion gained 0.7% to trade at $ 111,519.