Ethereum ICO investors suspect cashing out! Transfer 1732 ETH to the exchange Kraken

The Ethereum Dencun upgrade mainnet launch has been confirmed to be launched on March 13. The upgrade will introduce EIP-4844, which can greatly improve the scalability of Ethereum and is expected to allow Layer 2 Transaction costs are reduced by 10-100 times, and with the Dencun upgrade approaching, Ethereum broke through $3,000 last night, setting a new high since April 2022.

Early investors suspected of cashing out

According to Lookonchain’s monitoring data, when the price of Ethereum exceeded $3,000, an early investor who had held it for 8.6 years sold 1,732 ETH last night. Moved to cryptocurrency exchange Kraken. This transaction is worth approximately US$5.15 million, which has attracted some attention from the market. Some people speculate that this may be to prepare for cash out.

It is worth noting that the address 0xE20BB9f3966419E14BbbaAaa6789e92496CFA479 participated in the Ethereum ICO in 2014. This address received 3,465 ETH in the genesis block, with a current value of approximately 1030 Ten thousand US dollars, while the price of Ethereum at the time of the ICO was only about US$0.31. Compared with the current price of about US$3,000, it has increased nearly 10,000 times.

This address still holds 1,733.12 ETH, worth US$5.2 million.

Ethereum launched a 42-day ICO in August 2014, with a target crowdfunding amount of US$19.7 million, which was carried out in 3 phases. During the 14 days of the first phase, the ETH: BTC exchange ratio was 2000:1, then dropped to 1337:1. In the end, the ICO raised 31,000 BTC and sold 60.1 million ETH, which was worth approximately US$18.4 million at the time.

If the spot ETF is approved, it will further boost the rally

As Ethereum returns to the $3,000 mark, IntoTheBlock analysis pointed out that more than 16 million ETH addresses are currently in the red ( Accounting for about 14.7%), about 879,000 addresses turned profitable when they exceeded $3,000. With more than 83% of the addresses in profit, the most likely scenario is that the $3,000 level can be successfully exceeded without encountering major problems. question.

If the Ethereum spot ETF is approved by the SEC, it is expected to push Ethereum up further. Wall Street investment bank Bernstein released a research report on Monday stating that it is time to pay attention to Ethereum, and Ethereum may be the only Spot ETF digital assets are expected to be approved by the SEC.

Bernstein believes that the probability of Ethereum spot ETF being approved for listing before May is about 50%, and it will almost certainly be approved within the next 12 months. Bernstein praised Ethereum’s use of its pledge Revenue, environmentally friendly design, and institutional practicality in building new financial markets are ready for adoption by mainstream institutions. It is expected that the Ethereum revenue market will grow in tandem with its market value.

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