Ethereum (ETH) Wale Moves 20,000 ETH Tokens Worth $5.5 Million to Bitfinex

August 27, 2018

 

An anonymous individual considered to be one of the very first Ethereum investors has moved approximately 20,000 ETH coins to Bitfinex. Although Ethereum remains the second largest cryptocurrency, it has not been spared from the effects of the overbearing bearish trend that has reigned supreme this year.Owing to this, the anonymous investor who is believed to belong first “ethereum whales” is having second thoughts about the prospects of the second-largest cryptocurrency’s as he funnels millions to Bitfiniex.According to Etherscan, this same individual received more than 314,000 ETH from the Ethereum’s Genesis block as a result of his/her investments in the Ethereum Initial Coin Offering (ICO). This week has seen the Ethereum whale transfer approximately 20,000 ETH to Bitfinex, which is worth approximately $5.5 million at press time.The movement of Ether from this wallet was first noted by California-based attorney Zoe Dolan.Dolan has been monitoring wallets holding funds that originated in the Ethereum Genesis block for evidence of “capitulation.”After moving the tokens which have presumably been sold, the unknown investor’s original wallet, still holds more than 104,000 ETH, worth approximately $28 million.

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