A substantial amount of Ethereum (ETH), valued at approximately $287.7 million, recently moved for the first time in seven years, shrouding the transaction in mystery. The movement involved 92,000 ETH and has sparked widespread speculation about its origins and purpose.
Initially, some speculated that the funds might be connected to the Ethereum Foundation, while others suggested it could be linked to an early contributor to the organization. However, a source from the Ethereum Foundation clarified to The Block, “This is not an EF wallet,” putting the foundation’s involvement into question.
Data from the crypto tracking platform Arkham shows that on September 1, 2015, at 12:21:51 UTC, the wallet in question received 96,474 ETH, worth $130,320, from the Ethereum Foundation. Seven years later, this wallet moved the funds to an unlabeled address that had been mostly inactive until this recent transaction.
As of July 25, 2024, Ethereum traded at $3,127 as of 4:48 p.m. ET (20:48 UTC), reflecting a decrease of 7.33% over the past 24 hours, according to The Block Prices for Ethereum. The sudden movement of such a large amount of ETH has captured the attention of the crypto community, with ongoing speculation about the identity and intentions behind the transaction.
