No one knows exactly why it is 92,000. Ethereum
+2.38%
Initial speculation linked the funds to the Ethereum Foundation, while others said the funds could be linked to early contributors to the organization. “This is not an EF wallet,” a source at the Ethereum Foundation told The Block.
According to data from crypto data tracking platform Arkham, the wallet received 96,474 ETH (equivalent to $130,320) from the Ethereum Foundation on September 1, 2015 at 12:21:51 UTC. Seven years ago, the wallet sent the funds to an unlabeled address that has been mostly dormant until today.
According to the Ethereum block price, ETH is trading at $3,127 as of 4:48 PM ET (8:48 PM UTC) on July 25, down 7.33% over the last 24 hours.
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About the Author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin first broke $20,000. Since then, MK has written nearly 1,000 articles for the publication, covering all aspects of crypto news but with a penchant for NFTs, metaverse, web3 games, fundraising, crime, hacking, and crypto ecosystem stories. MK holds a graduate degree from the Science, Health, and Environment Reporting Program (SHERP) at New York University and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.