Ethereum wallet "Genesis" moves $2.2 million after 10 years of HODL

An Ethereum wallet address holding 900$ETH , worth $2.2 million, began moving this amount on Monday after nearly 10 years of "HODL". This address received the amount of "genesis coins" (tokens created from Ethereum's first block) in 2015, when the price of ETH was less than 50 cents.

Events and significance

These coins were "pre-mined" for early contributors and developers of the project before the Ethereum mining process began. This is one of many recent transactions involving holders of large amounts of cryptocurrency over long periods. In April, a "whale" #Ethereum sold ETH worth about $27.6 million, potentially yielding a profit of over 18,000%. Last week, a Bitcoin "whale" also moved over $8 billion in BTC after 14 years.

Currently, ETH is trading around $2,529 per coin, down nearly 2% in the past 24 hours. Although up nearly 2% in the past month, ETH is still about 48% lower than its all-time high of $4,878 in 2021. ETH is the second-largest digital currency after Bitcoin, with a market capitalization of $306 billion. #anhbacong