Long-Held ‘Genesis’ Ethereum Moved After Nearly Decade

An investor holding nearly 900 ETH, valued at over $2.2 million when moved, initiated the transfer Monday via blockchain data, marking one of several recent movements by long-term holders of large crypto amounts.

The Genesis Allocation: The coins originated from 2015, secured during Ethereum’s nascent phase, distinct from user-acquired coins as they were “pre-mined” tokens created with the genesis block.

Context from Recent Moves: This sale follows earlier activity, including a $27.6 million ETH sale in April (potentially yielding over 18,000% gains) and a $8 billion Bitcoin transfer this week.

Market Snapshot: Ethereum recently traded around $2,529 per ETH, experiencing minor declines but maintaining a valuation of approximately $306 billion, significantly below its 2021 peak.

Network Evolution: Originally proof-of-work (like Bitcoin), requiring miners, Ethereum recently transitioned to a proof-of-stake consensus mechanism, shifting coin creation to stakers.

Note: Technical classification: The holder holds below the typical whale threshold of 10,000 ETH ($25.3 million at present pricing).