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Genesis-Era Ethereum Whale Sends $171,780,000 Worth of ETH to Kraken in 2024: Report

A crypto whale that participated in the initial coin offering (ICO) of Ethereum has reportedly been spotted sending nine figures worth of ETH to the crypto exchange Kraken this year. Citing data from on-chain analyst Ember, Wu Blockchain reports that after another transfer of 3,370 ETH to Kraken over the weekend, a whale connected to Ethereum’s genesis block has sent a total of 48,687 ETH worth $171.78 million to the exchange in 2024 with an average transfer price of $3,528. Meanwhile, Ember says that the deep-pocketed investor collected 200,000 ETH from the genesis block in 2015. Ember also thinks that the Ethereum whale will soon run out of ETH to unload. “ However, after eight years of continuous sales, his ETH has been almost sold out. Currently, there are only 7,594 ETH ($25.72 million) left, and it will be cleared in one-two more sales.” Blockchain tracking firm Lookonchain also recently spotted an Ethereum genesis wallet waking up after almost a decade of inactivity to transfer a small amount of ETH to a new address. “An Ethereum ICO participant woke up after 9.4 years of dormancy and transferred 0.01 ETH to a new wallet. The participant received 1,940 ETH (ICO cost was $601, now worth $6.56 million) at [Ethereum’s genesis].” At time of writing, Ethereum is trading at $3,356, up about 1,082,480% from its ICO price of $0.31. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Genesis-Era Ethereum Whale Sends $171,780,000 Worth of ETH to Kraken in 2024: Report appeared first on The Daily Hodl . The Daily Hodl

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Altcoin Season Index Rises to 46, Signaling Bitcoin Dominance

Altcoin Season Index Rises to 46, Signaling Bitcoin Dominance The Altcoin Season Index , a popular metric tracked by CoinMarketCap (CMC) , increased by one point to 46 as of 00:32 UTC on December 30, 2024 . This score indicates that the crypto market remains in Bitcoin Season , where BTC continues to dominate performance relative to top altcoins. What is the Altcoin Season Index? The Altcoin Season Index measures whether the market is in Altcoin Season or Bitcoin Season based on the performance of the top 100 cryptocurrencies (excluding stablecoins and wrapped tokens) over the last 90 days. Scoring System: Altcoin Season: Occurs when 75% or more of the top 100 coins outperform Bitcoin. Bitcoin Season: Occurs when 25% or fewer outperform Bitcoin. Index Range: Scores range from 1 to 100 , with higher values favoring altcoins. Current Market Sentiment: Bitcoin Season at 46 With the Altcoin Season Index at 46 , the crypto market is currently in Bitcoin Season : BTC Outperformance: The majority of top cryptocurrencies have underperformed Bitcoin over the past 90 days. Market Implications: Bitcoin dominance typically signals a consolidation phase for altcoins as investors concentrate on BTC. Why Does the Altcoin Season Index Matter? Investment Strategy The index helps traders identify optimal periods for investing in: Bitcoin: During Bitcoin Season, when BTC leads the market. Altcoins: During Altcoin Season, when smaller-cap coins tend to rally. Market Trends The index provides insight into broader market dynamics, such as shifts in capital allocation between BTC and altcoins. Factors Influencing the Index Recent Bitcoin Dominance Macro Sentiment: Bitcoin’s robust performance amid market uncertainties often attracts institutional and retail interest. Altcoin Volatility: Many altcoins have struggled to maintain momentum, contributing to Bitcoin’s relative strength. Altcoin Underperformance While certain altcoins like Ethereum (ETH) and Solana (SOL) have shown strong performance in specific sectors, most top 100 altcoins have lagged behind BTC over the analyzed period. Looking Ahead: Will Altcoin Season Return? Indicators to Watch Altcoin Momentum: A shift in capital towards altcoins could push the index closer to 75 , signaling the start of Altcoin Season. Market Catalysts: Innovations, partnerships, or regulatory developments could boost specific altcoins. Challenges for Altcoins Bitcoin’s Resilience: BTC’s status as the leading cryptocurrency continues to draw significant investment. Liquidity Constraints: Smaller-cap altcoins may struggle to attract sufficient liquidity to outperform BTC. Conclusion The rise in the Altcoin Season Index to 46 confirms the current dominance of Bitcoin Season , as BTC continues to outperform most altcoins. While the index suggests limited altcoin opportunities in the short term, market dynamics could shift rapidly, paving the way for the next Altcoin Season. For the latest insights into Bitcoin and altcoin market trends, explore our crypto analysis and stay informed on the next big opportunities in the digital asset space. The Daily Hodl