Bitcoin Whale and Ethereum ICO Member Deposits $250M Holdings to Exchange

In the past 24 hours two separate whales, each holding more than 9 digits worth of the cryptocurrency, moved holdings to exchanges.

One whale had an address that participated in Ethereum’s ICO in 2014, and hadn’t changed its coins since then.

• As revealed An Ethereum ICO participant moved 61,216 ETH worth $116 million to crypto exchange Kraken on Tuesday, according to Twitter blockchain tracker LookOnChain.
• According to etherscan, the address had no other significant activity, having received its entire ETH reserves from the Ethereum Genesis address 2,911 days ago. At that time, the value of ETH was only $0.31.
• The genesis address is often referred to as a “black hole”: any crypto sent there cannot be recovered, yet it remains one of the richest Ethereum addresses on the network, with 11,743 addresses at the time of writing. ETH is.
• Prior to his transfer, the ICO participant appears to have made a test transaction of 0.5 ETH, before sending his entire ETH reserves to the exchange.
  the next day, lookonchen announced that an individual bitcoin (BTC) whale had transferred $4,451 BTC to Binance, worth $133 million.

• “The whales last deposited a large amount of BTC (5,000 BTC, worth $118M) to Binance on January 30th, and the BTC price dropped by ~4.2% after the deposit,” the account said.

• Experts often view rising bitcoin balances on exchanges as a sign that investors intend to sell their coins.
• This year, the US government announced an even bigger sale of bitcoin in 2021 related to a large stack — ~9000 BTC — seized from the Silk Road hacker.
• On-chain data shows the government moved a similar-sized batch of BTC from its wallets this month, possibly signaling another sale.