Mysterious Movement of 92,000 ETH

No one really knows why 92,000 ETH (~$287.7 million), valued at around 2.75%, moved for the first time in seven years.

Initial speculation connected the funds to the Ethereum Foundation, while others suggested a link to an early contributor. However, a source from the Ethereum Foundation stated, “This is not an EF wallet.”

Data from the crypto tracking platform Arkham reveals that the wallet received 96,474 ETH (valued at $130,320) from the Ethereum Foundation on September 1, 2015, 12:21:51 UTC. Seven years ago, this wallet transferred the funds to an unlabeled address, which had remained mostly dormant until today.

As of 4:48 p.m. ET (20:48 UTC) on July 25, ETH traded at $3,127, having decreased 7.33% in the past 24 hours, according to The Block Prices for Ethereum.