Ethereum OG Moves $2.2 Million in 'Genesis Coins' After 10 Years HODLing
Summary
An investor moved $2.2 million in Ethereum after nearly 10 years of inactivity. The 900 ETH were originally received in 2015 when Ethereum was priced under 50 cents. These were "genesis" coins, distributed to early contributors and developers. Recent large crypto movements include a $27.6 million Ethereum sale in April and an $8 billion Bitcoin transfer last week. Ethereum is trading at $2,529, down 2% over 24 hours, and is 48% below its 2021 peak. Ethereum, with a $306 billion market cap, transitioned from proof-of-work to proof-of-stake in 2022, reducing energy consumption. The investor is not classified as an Ethereum whale.
