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An Ethereum ICO Investor is Moving Millions in ETH to Bitfinex

One of the first “ethereum whales” appears to be having second thoughts about the second-largest cryptocurrency’s prospects. The development was first noted by California-based attorney Zoe Dolan, who has been monitoring wallets holding funds that originated in the Ethereum Genesis block for evidence of “capitulation.” But while that 20,000 ETH may represent a small portion of the wallet’s initial balance, it’s not the first time that this unknown investor has moved a large amount of ether to Bitfinex. In May, the wallet funneled more than 116,000 ETH — worth ~$65 million at the time — out of the original wallet, and most of these funds appear to have eventually ended up at the exchange in a series of transactions made over the course of the next several months.



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