During a whirlwind 24 hours, Ethereum, the second largest cryptocurrency, caused a stir as it crossed the $3,000 mark, but settled at $2,977 at the time of reporting.
Adding to the excitement, Ethereum saw a surge in new wallet creation, with a staggering 267,000 new wallets created. wallet recorded. This influx marks the highest number of new wallets in nearly two years and shows renewed interest and participation in the Ethereum ecosystem.
#Ethereum The number of new wallets reached 267,000, the highest level in almost two years. @santimentfeed $ETH #cryptocurrencyhttps://t.co/3yVvcot09I
— TheCryptoBasic (@thecryptabasic) May 2, 2024
But amidst the excitement, an interesting development emerged from Lookonchain data. An Ethereum ICO participant who has been dormant for 8.8 years has resurfaced and transferred his 1,960 ETH worth $5.87 million from his wallet.
Notably, this individual initially received 1,969.488 ETH (valued at $5.9 million) during Ethereum's Genesis ICO, but the price per ETH at the time was hovering around $0.31.
Ann #Ethereum ICO participant wakes up after 8.8 years of dormancy and transfers $1,960 $ETH($5.87 million).
He received 1,969.488 $ETH($5.9 million) #Ethereum Genesis, ETH ICO price is ~$0.31. https://t.co/g6mbyzSSgj pic.twitter.com/qm8wvJC8Xn
— Lookonchain (@lookonchain) May 2, 2024
Monitor notable developments related to the Ethereum Foundation
Further scrutiny by Arkham revealed some interesting activity involving addresses suspected to be affiliated with the Ethereum Foundation.
One such address (0xd7…c1f4) received 291.267k DAI for 100 via Cow Protocol, a decentralized exchange, before transferring the acquired DAI to another Ethereum Foundation address (0x9e…313D). It is reported that he sold ETH.
Interestingly, this apparent Ethereum Foundation address has recently been observed selling ETH for DAI through the Cow protocol.
According to Arkham, an address marked as suspected Ethereum Foundation (0xd7…c1f4) sold 100 ETH for 291.267k DAI through the Cow protocol today, and then sold these DAI to the Ethereum Foundation address (0x9e…313D) It is said that it was transferred to. In the past period, there have been suspicions that Ethereum…
— Wu Blockchain (@WuBlockchain) May 2, 2024
These developments highlight the dynamic nature of the Ethereum ecosystem, including significant price movements, record wallet growth, and interesting wallet activity that has captured the attention of market participants and analysts alike.
As Ethereum continues to evolve and gain traction, developments like this serve as a reminder of the vibrant and ever-changing landscape of cryptocurrencies.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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