Yesterday, the Ethereum wallet of Plustoken, which had been dormant for more than three years, suddenly started a large-scale collection operation, with the total number reaching a staggering 808,000. Does this indicate that another "thunderbolt" is about to come, and will the cryptocurrency circle face another "bloodbath"?
On the evening of August 7, the media reported that according to Scopescan monitoring, hundreds of addresses associated with PLUSTOKEN are quietly gathering Ethereum. The total amount of Ethereum retained and outflowed from these addresses is about 808,000. Although there is no selling behavior at present, this huge number is enough to make the market uneasy. After all, if these coins are hit into the market, their impact will far exceed the market crash on August 5.
Three hours later, the incident took a big turn. According to on-chain analyst Ember, a large amount of ETH was being transferred from dormant wallets related to Plus Token tonight. However, most of the wallets related to Plustoken have been sold in 2021, and only 25,757 ETH have been collected so far.
1. 789,534 ETH, most of which entered the Bidesk exchange through multiple addresses from June to September 2021 (this exchange collapsed at the end of 2021), and then was withdrawn from Bidesk and transferred to Huobi. Among them, 268,843 ETH entered Bidesk through only four Bidesk deposit addresses.
2. About 12 addresses have collected Plus Token-related ETH in the last 30 hours, with a total of 25,757 ETH (63.1 million USD). Some of these ETH were not transferred to Bidesk in 2021; some were withdrawn from Bidesk but not transferred to Huobi.
The report's rough conclusion is that most of the 789,534 ETH should have been sold in 2021, and what is currently being collected is a small portion that was not sold in 2021.
Although the specific movements of these assets cannot be determined at present, the market has begun to feel the tense atmosphere brought about by this incident. We will closely monitor the development of the incident and update relevant news in a timely manner.
