An early Ethereum investor has transferred 900 ETH originating from the network’s genesis period, acquired when the cryptocurrency traded for less than $50 per coin.
These coins, dormant since Ethereum’s earliest days, were moved amid the current market environment where Ethereum trades around $2,529. The movement signals potential shifts in behavior among long-term holders.
Ethereum maintains its position as the second-largest cryptocurrency by market capitalization, valued at approximately $306 billion. The network’s ongoing transition to a proof-of-stake consensus mechanism, aimed at enhancing scalability and sustainability, is a significant factor that may influence the decisions of long-term holders.
Similar large-scale movements of assets held since inception have been observed recently with other major cryptocurrencies, including Bitcoin.