Early Ether Wallets Transfer More Than $52 Million to Exchanges

Two early Ether (ETH) wallets moved more than $52 million in tokens to Kraken and Coinbase in October, alongside a separate 3,000 ETH transfer from a dormant address on Oct. 22.

One wallet deposited 6,369 ETH, worth about $16 million, to Kraken earlier in October. The wallet had acquired the tokens at $14 each.

An Ethereum initial coin offering participant moved 13,330 ETH, valued at more than $36 million, to Coinbase. The wallet acquired 170,000 ETH through Ethereum’s 2014 presale at about $0.31 per token.

A separate 3,000 ETH transfer to Kraken on Thursday, Oct. 22, was valued at $7.23 million. The address had been inactive for 9.5 years, as detailed in coverage of the dormant address’s Kraken transfer.

The transactions show Ether moving to exchange addresses, but they do not confirm completed sales or explain why the holders moved the funds.