In a notable turn of events, a mysterious Ethereum ICO participant who had been dormant for six long years suddenly reemerged, making a massive move on the crypto market.
According to a tweet from Lookonchain, a leading on-chain data analytics firm, the individual in question staked a whopping 48,992 ETH, equivalent to a staggering $80 million, in October of this year.
The participant initially received a whopping 120,000 ETH at the genesis of the Ethereum network via three separate addresses, then transferred 32,015 ETH, valued at $53 million, to a new address just five hours ago.
Many in the crypto community are speculating as to the identity of this enigmatic figure and what could have prompted such a massive transfer of funds after such a prolonged period of inactivity.
Some have suggested that the participant may be a long-time HODLer who is finally cashing in on their investments. In contrast, others believe that they may be making a strategic move in preparation for a significant market shift.
Whatever the reason for this mysterious individual’s actions, one thing is certain: their move has sent ripples through the crypto community and has many market watchers eagerly anticipating their next move.
Ethereum (ETH) Price Review
As reported by TronWeekly, ETH started off the week priced at $1,264.18 but, by the next day, had broken through the $1,300 mark and went on to hit a high of $1,432.28 on January 12th, showing a notable increase in value.
As the week concluded, bulls successfully raised the price to $1,563.74 on January 14th; however, the price closed the week at $1,550.71.
Currently, data displays Ethereum at a higher rate of $1,634.78 – marking an impressive 6% rise in the weekly chart, although the trading volume has declined by 15%, according to CoinMarketCap.
Regarding ETH liquid staking, according to the latest report from Tronweekly, the transition of Ethereum to proof-of-stake has caused a surge of liquid staking platforms.
Through these platforms, users can delegate their Ether and gain a yield in return in the form of a tradable token. Two major liquid staking projects have seen massive growth in recent months; Lido’s LDO token increased 115%, and Rocket Pool’s RPL token experienced an 80% surge.
The report also claimed that centralized and decentralized staking providers are gaining traction and popularity due to their user-friendly interfaces and easy entry requirements. These services have allowed everyday users to take advantage of the staking process without much difficulty.