Whale With Ethereum Foundation Link Transfers 92,500 ETH Worth $288M 

According to onchain data, a significant whale holding over 92,500 ether moved the funds to an unidentified wallet. Arkham Intelligence data suggests the funds may have been linked to the Ethereum Foundation, though this is not confirmed. Originally, the funds were transferred to a mysterious wallet on Sept. 1, 2015.

Significant Ether Transfer Worth $288M Tracked by Blockchain Parsers

On July 25, 2024, blockchain trackers including Whale Alert detected a transfer of 92,500 ETH, valued at $288 million at the time of writing. Although the transaction is substantial, Arkham Intelligence’s onchain data and heuristics indicate that the funds may be connected to the Ethereum Foundation. The funds moved on Thursday, stemmed from a wallet that is flagged as possibly an Ethereum Foundation wallet (0xe93232a) with a question mark next to it, as identified by Arkham.

When the wallet initially received the funds on Sept. 1, 2015, it was nearly nine years ago. The money originally came from an official Ethereum Foundation wallet, “0x5eD8Cee,” which now holds 134.454 ETH. The new address is suspected to be connected to the foundation due to this specific 2015 transaction when 96,474.15 ETH was transferred.

Currently, the funds are idle in the wallet “0xe481a22.” This transfer occurred during a period of declining ETH prices, with ETH down 7.9% today and an 8.5% drop over the past 30 days. This also coincides with the launch of spot ether exchange-traded funds (ETFs), and Grayscale’s outflows from ETHE have added market pressure. While it’s uncertain if the 92,500 ETH, valued at $288 million, came from the foundation, it appears the funds have not been sold or moved to an exchange.

What do you think about the massive transfer of ether on Thursday? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn