A former Ethereum investor moved ETH to a value of $14.7 million today after nearly 8 years. A common hypothesis is that the whale probably remembered its password now.
Ethereum ICO investor transfers $14.7 million to a new wallet
According to the Lookonchain report, a giant whale that has been dormant for 8 years transferred 8,000 ETH (about $14.7 million) to a new address today. The giant whale was a participant in the 2014 Ethereum ICO. During this period, he bought 8,000 ETH during the early days of Ethereum.
The still whale raises numerous questions about the reasons behind this sudden activity. The whale’s next move is catching the attention of the crypto community and market analysts.
The important ETH transfer of the day sparked a wide variety of theories and conjectures among enthusiasts. A common hypothesis is that the participant is an early adopter or a passionate cryptocurrency enthusiast who has forgotten about their holdings by now. Considering Ethereum’s phenomenal rise in value over the past few years, this explanation makes sense.
Others suggest that the whale wants to diversify its portfolio with new altcoins.
Is the whale chasing new prey?
Layer two (L2) solutions under Ethereum sustainably gained traction as a way to address the scalability of the network and high transaction fees. As a result, L2 data fees on Ethereum have reached the ATH level, according to data from The Block.
L2 data charges refer to the costs associated with data transfer and transaction processing in L2 networks based on the Ethereum L1 Mainnet. As more users and applications use L2 solutions, the demand for off-chain transactions processing is increasing, reflecting the increasing usage and demand for these scaling solutions.
If the whale is going to have a new investment strategy, it will probably choose the Ethereum network again for it. Currently, all of Ethereum’s prominent projects are in the Tier-2 category, including Arbitrum and Optimism.
Ethereum falls back in TVL competition
The decline in ETH has also spread to the overall Total Locked Value (TVL) performance of the market. While DefiLlama showed an increase in the metric, it fell far short of its main competitors at $13.27 million.
TVL is widely used as a liquidity pool for staking on a Blockchain. When the metric increases, it means that the health of a protocol is excellent. But when it crashes, it opens threats to the protocol. Thus, it serves as an indicator of hungry liquidity.
zkSync Era is ahead of Polygon zkEVM with a TLV of $127.63 million. In terms of optimism, the situation was completely different. For Optimism, it seems to have provided some sort of stability at $889.36 million. As with data charges, Arbiturm took the top spot with a TVL of $2.34 billion.
Currently, optimistic rollups seem to be stealing the hearts of investors. Therefore, the ZK cohort would have to do more to influence and develop its market share. Meanwhile, cryptocoin.com As we reported, the date for the next big Ethereum update has been announced.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.