Ethereum Whale Moves $12M in ETH to Ethereum Foundation

On March 4th, an ancient Ethereum whale, known for its extensive holdings, executed a significant transaction. The entity, identified as the "Ethereum ICO 560K ETH Ancient Whale," transferred 6,022 ETH—valued at approximately $12.34 million—to a recognized address affiliated with the Ethereum Foundation. This transfer, which was made two hours prior to the report, marks a notable movement of crypto assets, yet the transferred funds remain inactive post-transaction.

In the last two years, this whale has systematically allocated its holdings, sending 105,522 ETH across four different wallets. A substantial portion of this ETH was primarily directed towards staking on various LRT protocols. The whale still retains over 280,000 ETH, with an impressively low cost basis of $0.31. The distribution includes multi-signature addresses holding 139,678 ETH, 55,000 ETH, and 85,622 ETH within an Ethereum Foundation-associated wallet, which notably also received a prior transfer of 4 million DAI on May 10, 2022.