Mystery surrounds $289 million in ETH that moved for the first time in 7 years

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The Block2024/07/25 22:58

By:The Block

Quick Take 92,000 ETH, valued at around $287.7 million, moved for the first time in seven years. The wallet initially received 96,474 ETH valued at $130,320 on Sept. 1, 2015 12:21:51 UTC from the Ethereum Foundation.

No one really knows why 92,000 ETH -4.82% , valued at around $287.7 million, moved for the first time in seven years.

Initial speculation connected the funds to the Ethereum Foundation, with others stating it could be connected to an early contributor to the organization. A source with the Ethereum Foundation told The Block, "This is not an EF wallet."

Data from the crypto data tracking platform Arkham shows that the wallet received 96,474 ETH valued at $130,320 from the Ethereum Foundation on Sept. 1, 2015, 12:21:51 UTC. Seven years ago, this wallet sent the funds to the unlabeled address, which had sat mostly dormant until today.

ETH traded at $3,127 as of 4:48 p.m. ET (20:48 UTC) on July 25, having decreased 7.33% in the past 24 hours, according to The Block Prices for Ethereum .

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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