In a time of bear market-induced uncertainty, cryptocurrency investors often tend to hold onto Bitcoin (BTC) and Ether (ETH) to avoid impermanent losses. As a result, the significant movement of these assets intrigues the community as they try to decipher the intent behind the movement.
Two addresses that have been dormant for over four years recently came back to life to transfer 22,982 ETH to new addresses, leaving investors confused. The ETH tokens in question came from the Genesis and Poloniex trading platforms and were found transferring 13,103.99 ETH and 9,878 ETH, respectively.
#PeckShieldAlert 2 Dormant addresses transferred 22,982 $ETH (~27.2M) to 2 fresh addresses, their last movement was October 2018 (1,535 days ago).
estos $ETH originated from Genesis and Poloniex pic.twitter.com/MXKpLnypif— PeckShieldAlert (@PeckShieldAlert) December 19, 2022
Blockchain activity researcher, Peckshield found that the last movement of the ETH tokens in question dates back to October 2018, when the price of Ether was roughly between $190 and $230. On the day of the transfer, the asset was trading at nearly $1,200 per coin.
The above flowchart shows the historical movement of assets and how they made their journey over the years from trading platforms to new addresses. Although no specific details have been revealed at press time, community speculation links the tokens to collateral funding for a project.
Idea of the co-founders Vitalik Buterin Y Charles Hoskinson, among others, Ethereum was born in July 2015 and has positioned itself as a reliable investment over the years.
Since Ethereum completed the Merge upgrade, network power consumption has been reduced by 99.9%.
As a direct result of the change tol proof-of-stake consensus mechanism, the carbon footprint of the Ethereum network is currently 0.1 million tons of CO2 (MtCO2) per year.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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