Two Ethereum “Frontier” Genesis whale wallets, dormant since the network’s launch on July 30, 2015, moved a combined 1,140 ETH worth nearly $2.9 million on Monday.
These wallets, identified by addresses starting with “0x27” and “0x7f,” received their initial ether allocations during Ethereum’s mainnet launch – known as the “Frontier” phase – making them among the oldest accounts on the blockchain.
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The price of ETH has surged nearly 90,000% since these wallets were first funded from transactions labeled “GENESIS” on blockchain explorer Etherscan.
Meanwhile, onchain analyst Ted Pillows noted that ETH saw $1.3 billion worth of net flows in the last week, citing data from analytics platform Artemis.