Ethereum’s youth. Whenever early-stage cryptos are moved, it always causes a stir in the ecosystem. Between those who regret not having been able to buy ETH at less than $1 and those who panic wondering why it’s moving now, social networks rustle with every move of these big crypto wallets. Today, we’re going to take a look at a batch of 641 ETH which have just been deposited in staking and date from theICO of Ethereum. Come on, smile whales, you’re being filmed!
Crypto whales, the queens of the Ethereum ecosystem who make us all dream
For if there’s one thing that observers of the blockchain are the attitude of these financial cetaceans. When they transfer of cryptos to exchanges, everyone fears a massive sell-off, while a move back to cold storage gives hope of a market upturn. Not always verified, these urban legends nonetheless fuel the collective imagination. In fact, last year, on two occasions, we reported on two movements of 145,000 and 15,000 ETH that had stirred up the microcosm ofEthereum.
The movement that interests us this time is more modest, as it only involves 641 ETHwhich represents the sum of 1.2 million at market price. It was spotted by data specialist on-chain whose Twitter handle is Lookonchain. He reminds us in passing that this address had acquired 2,000 ETH at the time of theICOthat is, he paid $0.31 per ETH. This bag represented approximately 620 dollars at the time and 3.8 million now.
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614 ETH dating back to the ICO deposited in staking, whales make their money work!
But there’s no way this antique whale to sell these precious cryptos, if he’s moved them, it’s to put them in staking on the network. But why on earth now? Perhaps he was waiting for fresh cheaper networks? Or update Shapella which now allows you to withdraw your cryptos whenever you want? In any case, he’s not the only one to have chosen this option, as recently an ATH was reached on the Ethereum staking side with 23 million ETH deposited for a value of around 48 billion of dollars. Staggering.
By the way, it’s not just the second-largest crypto on the market that’s affected by this phenomenon, but all the networks in proof-of-stake (PoS). Last week, we learned that it was 100 billion working on the various blockchain networks. In order of importance Ethereum in the lead, of course, followed by Solana, Cardano, BNB Chain, Sui, Tron and Polkadot. Polygon and Cosmos close the top of this ranking proposed by the website StakingRewards.
Staking on Ethereum is definitely on a roll as the battle of the layers 2 is raging in the same ecosystem. WhileOptimism and Arbitrum are currently in first place, Starknet the outsider has not said his last word. The only downside to this idyllic picture is that the hacks which continue to pollute users’ lives, and most recently Curve, which has the community worried.
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