In recent years, there have been several cases of dubious development in the space of digital money. It does not pass a day or a week without a trend news (bullish or bearish). As for Ethereum (ETH), so many eyes have their value at the moment. Unfortunately, the value of the digital currency does not seem very healthy at the moment.
However, the main concern at the moment is the blockade of the genesis block. The balance of the genesis block has been moved to a new Ethereum (ETH) address in the last three weeks. The total balance in question is 380,000 ETH.
The balance of the Ethereum Genesis block is zero
Many people tend to have forgotten when the Genesis block of Ethereum was born. The Genesis block was created 1,209 days ago from the time of printing, according to Etherscan. This implies that Ethereum (ETH) is about four years old.
While the blockchain project has existed for some time, it is still encountering some of its initial problems so far. One of the initial problems faced by the Ethereum network in its early days is scalability. Up to now, sizing is still a big problem for Ethereum.
Another thing in question is the number of cases of use of Ethereum. Until now, the only known use case for Ethereum is the creation of tokens sold through ICO. Although the blockchain project is able to do more, many people still do not know about the different cases of use of Ethereum.
A game for PlayStation 4 will soon feature Ethereum's blockchain technology, but many players still will not know exactly what they're dealing with. Taking all these factors into account for the time being, it is still unclear why the funds in the genesis block portfolio have been moved at this time.
380,000 ETHs moved from the Ethereum genesis block portfolio in less than three weeks
According to Etherscan, 227,929 ETH was moved from the wallet to another address 18 days ago. Another ETH 152.071 was also moved to the same address yesterday. From the aspect of things, the receiving portfolio does not belong to any trading platform or service provider.
The address has no official label, however, it has been active for quite some time. The address just accrued ETH. At the moment, the address contains over 454,547 ETH, which at the moment is around $ 58 million.
The most surprising thing is that 227.929 ETH has been moved from the new portfolio to a third portfolio immediately after receiving the funds. However, the funds remained in the third wallet since it arrived. At the moment, nobody knows why such a large amount of ETH has been moved to the new portfolio. No one came out to say anything about the transfer and nobody knows who the new account is. However, there must be a reason for the transfer and could be revealed in the near future.
Ethereum Price (ETH) today – ETH / USD
Ethereum (ETH) is currently trading at $ 136.83 after an increase of around two percent over the past twenty-four hours. The current market capitalization of the digital currency is $ 14.14 billion and its trading volume in the last twenty-four hours is $ 3.01 billion.