They were stored on a wallet for eight years. Now a major investor has transferred Ether for $116 million.
- The wait was worth it: an unknown ether investor has transferred tokens worth 116 million US dollars to the crypto exchange Kraken .
- Previously, the assets had been untouched in the wallet for eight years .
- According to WhaleAlert, there are around 60,000 ethers from the so-called pre-mine phase. At that time, an ether was traded between 300 and 400 US dollars. Today the price stands at 1,900 US dollars.
- Eight-year-old ether stocks were transferred just a few months ago .
- Transactions of this magnitude are not uncommon. Coins are often moved to another wallet for security.
Key Factors Influencing Ethereum’s Price in 2023
Several factors are expected to play a crucial role in shaping Ethereum’s price throughout 2023:
- Ethereum 2.0 Upgrade: The ongoing transition to Ethereum 2.0, with its focus on scalability and energy efficiency, is expected to bolster investor confidence and attract more applications to the ecosystem.
- Institutional Interest: Continued interest from institutional investors and major financial institutions could contribute to Ethereum’s upward trajectory.
- DeFi and NFT Adoption: The growth of DeFi projects and NFT marketplaces built on Ethereum’s blockchain is likely to drive demand for the cryptocurrency.
- Regulatory Landscape: Regulatory developments globally may influence investor sentiment and the overall cryptocurrency market.
Ethereum’s Impressive Journey
Ethereum, the world’s second-largest cryptocurrency by market capitalization, has had a remarkable journey since its inception in 2015. It has not only established itself as a leading decentralized platform for smart contracts and decentralized applications (DApps) but also demonstrated resilience in the face of market fluctuations.
Also Read: What You Need to Know About the Litecoin Halving Happening on August 2, 2023
