The youth of Ethereum. Whenever early cryptos are moved, it always causes a stir in the ecosystem. Between those who regret not having been able to buy ETH for less than 1 dollar and those who panic wondering why things are happening now, social networks rustle with each movement of these large crypto wallets. Today we are going to look at a lot of 641ETH which have just been deposited in staking and which date fromICOs of Ethereum. Come on, smile whales, you’re being filmed!
Crypto whales, these queens of the Ethereum ecosystem that make us all dream
Because if there is one thing that observers of the blockchain love to scrutinize, this is the attitude of these financial cetaceans. When they transfer From cryptos to exchanges, everyone fears a sell-off as a move back into cold storage raises hopes for a market rally. Not always verified, these urban legends still feed the collective imagination. Moreover, last year, on two occasions, we titrated on two movements of 145,000 and 15,000 ETH which had agitated the microcosm ofEthereum.
The movement which interests us this time is more modest, because it is only a question of 641ETHwhich still represents the sum of 1.2 million dollars at market price. It was spotted by the data scientist on chain whose Twitter handle is lookonchain. He reminds us in passing that this address had acquired 2,000 ETH at the time ofICOs, i.e. he had paid each ETH at $0.31 each. This bag represented approximately $620 at the time and 3.8 million NOW.
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614 ETH dating from the ICO deposited in staking, the whales are making their money work!
But no question for this antique whale to sell these precious cryptos, if he moved them, it was to put them in staking on the network. But why the hell now? Maybe he was expecting costs cheaper networks? Or the update shapella which now allows you to withdraw your cryptos whenever you want? In any case, he is not the only one to have chosen this option since recently, an ATH was reached on the staking side on Ethereum with 23 million of ETH deposited for a value of approximately 48 billion of dollars. Dizzy.
Moreover, it is not only the second crypto on the market that is affected by this phenomenon, but all the networks in proof-of-stake (PoS). We learned last week that it was 100 billion of dollars who worked on the various blockchain networks. We find 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 march of this ranking proposed by the StakingRewards site.
Staking on Ethereum definitely has the wind in its sails even as the battle of the layers 2 rages in this same ecosystem. WhileOptimism And Arbitration currently hold first place, Starknet the outsider has not said his last word. The only downside to this idyllic picture, the hacks which continue to pollute the lives of users and lately it is Curve which worries the community.
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