Ancient Pre-Mine Ethereum Address Suddenly Activated as ETH Price Plunges

According to a recent update from Whale Alert, a dormant pre-mine address containing roughly $21.9 million worth of Ethereum hasThis is the first pre-mine Ethereum address that has been activated this June so far. In May, two such addresses containing $325,535 and $5.9 million, respectively, experienced sudden awakenings. In April, only one address that was created before the launch of the genesis block was activated. For comparison, three such cases were recorded in March.

Ethereum organized a major sale back in 2014, making it possible to buy pre-mined tokens that were created before the network's launch. The cryptocurrency took a nosedive after the most recent US jobs report greatly exceeded analysts' expectations. The persistent refusal of America's labor market to cool down does not bode well for those who are desperately waiting for the U.S. Federal Reserve to start cutting rates.

Nearly $49 million worth of Ether positions has been liquidated over the past four hours alone, with longs accounting for nearly 93% of the sum. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.

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Ripple CTO Issues Important Warning to XRP Army, 'Rich Dad Poor Dad' Author Makes Stunning BTC Price Prediction, SHIB and ADA Explode with Whale Activity: Crypto News Digest by U.Today

Source: Digital Coin News (digitalcoinnews.net)

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