This summary text is fully AI-generated and may therefore contain errors or be incomplete.
A long-dormant Ethereum wallet has suddenly come to life, containing thousands of coins that were collected during the network’s token generation event nearly three years ago. On November 24, approximately $42.4 million worth of ETH was moved, with 10 ETH being deposited directly to the Kraken crypto exchange. The wallet initially collected 100,000 ETH during the 2014 Ethereum initial token offering, which was worth around $31,000 at the time. Since then, the value of ETH has skyrocketed, reaching all-time highs in 2021. Interestingly, despite being one of the earliest ETH holders, the wallet had not made any moves until 2020. In September 2020, 0.70 ETH was transferred, and in 2019, a total of 40,000 ETH was moved. The recent transfer of coins to Kraken has raised speculation that the owner may be looking to liquidate their holdings. However, it is important to note that such transfers do not necessarily indicate a desire to sell, as whales and institutions often spread their holdings across various platforms for risk management purposes. Currently, Ethereum prices are trending higher, trading above $2,000 but remaining volatile. If the recent bullish momentum continues, ETH could potentially reach new highs in the coming days and weeks.