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The whole year until now has shown a tough bear market given the crypto winter, which continues without any sign of near recovery. Amidst such uncertain times, most investors think of major crypto assets like Bitcoin (BTC) and Ethereum (ETH) as the safe haven. Although the drops with these assets also remained significant, the trading shows they still remained relevant.
Recently an instance was reported where addresses which showed no movement for a long time resurfaced again. Two addresses made transactions of 22,982 ETH to the new addresses. The former were inactive for more than four years. Transaction after a significant time pulled the attention of many investors and left them surprised.
The transferred Ethereum (ETH) tokens were said to belong to Genesis and Poloniex-like trading platforms. About 13,103.99 ETH were transferred through the former while the other 9,878 ETH were from the latter.
It was in October 2018, according to blockchain investigator Peckshield, when these recently in discussion ETH tokens were in movement. Given the timeframe, ETH was trading between 190 USD to 230 USD. However, at the time of writing when these tokens were reported to move again, the native asset of smart contract blockchain network is trading slightly over 1,200 USD.
On 19th December, Peckshield shared the update on Twitter along with the flowchart showcasing the assets’ historical movement. In addition, it also consisted of their journey that they covered during all these years across trading platforms to the new addresses.
Until now, there were no further details available regarding the purpose of the transaction.
Community rumour connects the tokens to fundraising collateral for a project, however no specifics have been made public as of this writing.
the idea that co-founders Charles Hoskinson and Vitalik Buterin, among others, came up with
Back in July 2015, Ethereum was created, and since then it has established a reputation for being a reliable investment.
The network’s energy consumption has decreased by 99.9% ever since Ethereum finished the Merge upgrade.
The Ethereum network’s carbon footprint is currently 0.1 million tonnes of CO2 (MtCO2) per year as a direct effect of the switch to a proof-of-stake consensus method.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
