ETH Whale Transfers 20K Tokens After 3 Years of Dormancy

• According to Lookonchain, an ICO participant transferred 20,000 ETH after three years of dormancy.
• The user also deposited 10 ETH on Kraken, according to the smartmoney platform.
• The timing of the transfer spotted by Lookonchain coincides with Ethereum’s recent rally.

According to Lookonchain, the smartmoney on-chain platform, an Ethereum ICO participant transferred 20,000 ETH, worth $42.4 million, after three years of dormancy. The smartmoney platform revealed via a post on X (formerly Twitter) that the user deposited 10 ETH out of the transferred bunch on the Kraken crypto exchange.

The timing of the transfer spotted by Lookonchain coincides with Ethereum’s recent rally that saw the flagship altcoin retest its local high of around $2,133. That price also marks the upper limit of Ethereum’s price range for the…

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