Key points to remember
- Dormant ETH addresses linked to PlusToken transferred $2 billion after three years.
- Spot Ethereum ETFs saw $100 million in inflows, the second largest since their launch.
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Large Ethereum (ETH) holders moved 820,000 ETH in the last 24 hours, worth over $2 billion. reported By user Lookonchain on X (formerly Twitter), market maker Jump Crypto transferred over $29 million to the sale and bought back $48 million from liquid staking protocol Lido.
It is worth noting that ETH addresses that have been inactive for over three years moved $2 billion in ETH two hours ago, which is 789,533 ETH. Lookonchain linked the addresses to the now-defunct Chinese Ponzi scheme PlusToken, which was dismantled in November 2020 and for which $4.2 billion in cryptocurrencies were seized.
“Through on-chain tracking, we discovered that these funds came from the “Plus Token Ponzi 2” wallet. Plus Token Ponzi 2 dispersed 789,533 ETH across thousands of wallets in 2020 and has not moved since April 2021,” added user X.
This news may have impacted ETH price as it has suffered a 2.2% pullback in the last hour at the time of writing, the largest correction among the top 20 cryptocurrencies by market cap.
Ethereum ETFs See Positive Inflows
Meanwhile, U.S.-traded Ethereum spot exchange-traded funds (ETFs) saw nearly $100 million in inflows on August 6, making them the second-largest net inflows since their launch on July 23.
As reported According to Crypto Briefing, Grayscale’s ETF, ETHE, saw nearly $40 million in outflows yesterday, the lowest amount since it converted from a trust. Additionally, Ethereum ETFs saw $265 million in daily trading volume on Tuesday, according to data from DefiLlama.
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