On-chain analyst firm, Lookonchain tweeted today about an Ethereum ICO participant who emerged from an eight-year dormancy to make a significant move in the market. The participant reportedly transferred a total of 641 ETH and commenced staking activities. As a result of his strategic move, the participant has now received a whopping 2,000 $ETH, valued at an astonishing $3.7 million in the current market.
The remarkable event took place during the ETH community’s celebration of its birthday. July 30 marked the eighth anniversary of the official launch of the Ethereum mainnet. Exactly eight years ago, on July 30, 2015, the network made its historic debut, and the founding block of the network was successfully generated.
Ethereum’s Milestones Over 8 Years
As we observe the progress of Ethereum over these eight years, the platform has experienced tremendous growth. According to data provided by OKLINK, the total number of transactions conducted on the Ethereum network has surpassed a staggering 2.05 billion transactions. Furthermore, the number of addresses holding Ethereum has reached an impressive 66.12 million, reflecting the widespread adoption of the cryptocurrency.
In terms of circulation, the market currently holds a total of 47.22 million Ethereum, illustrating its immense popularity and high demand as a digital asset. Moreover, approximately 2.986 million Ethereum have been burned over time, showcasing the coin’s utility and deflationary nature.
The emergence of this dormant participant and the impressive statistics of the Ethereum network indicate a significant progress and widespread support within its community. Currently, ETH stands as the second-largest cryptocurrency worldwide, with an outstanding market capitalization of $225 billion.
In addition, the thriving ETH community has attracted a diverse group of over 1,900 highly skilled developers who actively contribute their expertise to the platform. This influx of talent has been instrumental in driving technological advancements and propelling Ethereum’s growth in the competitive cryptocurrency market.
However, witnessing the celebration of the network’s eighth birthday, the crypto world stands in awe of the participant’s strategic move and the impressive milestones achieved by this platform over the years. Exciting developments have paved a brighter future for Ethereum, promising greater innovations and opportunities in the ever-evolving blockchain landscape.
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