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A 2017 Gemini Withdrawal of 3,000 Ether (ETH) Reaches Kraken

The transfer valuation of $7.23 million was roughly 128 times the holding’s estimated $56,000 value in 2017.

Updated 1 min read
A transaction path links a dormant wallet with an exchange deposit in an editorial graphic. / EconoTimes.ai
A transaction path links a dormant wallet with an exchange deposit in an editorial graphic. / EconoTimes.ai

On-chain analyst EmberCN tracked a 3,000 ETH transfer to Kraken on Thursday, Oct. 22, after the sending address had been inactive for about 9.5 years.

The address had withdrawn the same amount from Gemini in 2017, when Ether traded at $19. The coins were worth about $56,000 then, making their value at the time of Thursday’s transfer roughly 128 times higher.

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